Ask Terry Questions Sale of Baxter stock am 91 years old

Sale of Baxter stock am 91 years old

By Terry Savage on June 15, 2024 | Financial Planning / Retirement

I have $12,000 in Baxter stock..want to sell ..hung on to it to long… broker said get S&P 500…small amount of $ but enough that somewhere else it can make a difference for the good. Terry,would so appreciate your input. S&P just didn’t sound right to me? Thank you terry
Thank you.

Terry Says

No, no, no!  Not unless you actually NEED the money to live on!

if you sell now, you’ll pay capital gains taxes on the gains. Buy if you leave the stock to your heirs, at your death there will be NO taxes!

AND, taking big gains will increase your Medicare premiums.

This broker just wants the commissions from selling the stock. Stay away from humor her!



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