I can't say I know when the best time is to sell a stock, if there is one, but I decided to start doing it today.
I sold my 50 shares of McDonalds. I'm kind of sad to see them go, as I have enjoyed many a Happy Meal in my day, but I'm also enjoying the nice little bit of money I made, as I bought the shares at $17.35 in 2003, and sold today at $34.87.
I also sold one of my mutual funds, TIVFX, which was up about 16% from when I'd bought.
I will probably sell a portion of my shares on a few other mutual funds within the next couple of weeks.
This is all to free up some cash for the condo. I'll probably be left with about $15,000 in stocks and mutual funds after these sales. I wish it was more, but I think by the time I get next year's bonus, I'll be able to start putting money back into investments.
After I close on the condo, I expect to have:
about $15,000 in cash/ CDs
about $15,000 in stocks/mutual funds
about $4200 in i-bonds
about $162,000 in retirement funds
a condo
a mortgage
and a whopping headache.
Friday, April 21, 2006
Know When to Fold'em
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1 comment:
It's probably good that you are liquidating the assets you will need for you condo.
I was taught that money needed for short-term expenses should never sit in the stockmarket or other potentially volatile investments.
Plus, the economy is looking kind of sketchy these days.
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