@loreec If you make less than $44,625 this year you don’t have to pay capital gains if you sell your stocks. Because you have the possibility of making higher than that in 2024, I would sell the Disney stock this year and put it in the S&P. Because you have earned income in 2023 I would look at putting $6,500 of it into a Roth IRA so any future gains are non-taxable if drawn after age 59.5. You can easily open a Roth IRA and brokerage account on Robinhood.
@nym Obviously you haven’t read anything lately… maybe you should check your facts instead of just giving random opinions… their stock has gone through the roof this year, they are publicly traded… they are bigger that 3 of the top insurance companies in America, and ranked #1 in customer satisfaction this year while other companies are getting sued.
@spirito Wishful thinking Lib! Disney stock is lagging the market. Not at all through the roof. Its 10yr performance is near 0%. Flat. My money market is up 5% this year. DIS is up only 3.8% the past 12 months compared to the S&P 500 (+ 22%), DJIA (+12%), and NASDAQ (+36%).
PRIMERICA is a joke in the financial services industry. Literally a joke. No professional who could work at another firm would choose to affiliate with this one.
@spirito No it’s because PRIMERICA does not attract professionals.
PRIMERICA has 135,000 reps and manages about $70b. That’s an avg of about $500,000 per rep.
The top ten firms by comparison have way less reps (5,000 -25,000) and manage way more money. As much as $600b each. The average Rep at these more respected firms manages $50mm - $250mm (depending on the firm).
Would you rather take recommendations from a rep managing $500k or $250mm? One of them has a lot more experience than the other.
@nym Well… Million dollar earner 125 is my Baseshop and he got that in April- since then there have been 4 or 5 more. That’s not lifetime earnings that’s year. OH and they don’t advertise… but we payout life policies in days after a death not never … our stock is going up for some reason
@loreec If you have no income and you sell $40k of stock even if it was 100% gains you wouldnt owe any capital gains tax. So a year with no income is the year to do that.
@loreec Your head is in the right spot. Sell and reinvest in s&p. Long term capital gains will be better to pay while your income is low this year than when your income increases later. Just set some aside for tax time
@loreec This is a perfect time to sell and relize the gains. Because you are in a lower tax bracket, you are likely to pay 0% in Long-term capital gains taxes. Sell it. Keep a small portion if you are emotionally tied to it since it was from your grandparents (Its XOM for me!)
Do it THIS YEAR though. Now, open an FULLY fund $6,500 into a ROTH, keep another $7,000 in cash so you can make your 2024 ROTH contribution after Jan 1, the rest gets invested in a taxable account. Set the bulk of it to an S&P index fund and you're off.
@stephknce Hanging onto 7k in cash until next month when you can fund your Roth next year is actually pretty fantastic advice. Fund 6500 this year and 7000 next (the limit goes up by $500 next year). Remember that a Roth IRA is just a type of account and not an investment. Once it’s in the Roth you have to buy an index fund like VOO.
@freed0mandtruth If it's really been 15 years they've still made a shit ton on Disney stock. Perhaps the last 2 years not been great buts it's still one of the largest companies in the world. Could have done a lot worst investing in the countless companies that have gone bankrupt in the last 15 years.
@brknight Yeah it’s actually been invested since I was born. I did the math and Disney stock has grown about 270% and S&P 500 360% so not the same but close-ish. However Disney was beating the S&P 500 like 2 years ago lol. Regardless safer to invest in the S&P 500
