 What are some good stocks to invest in right now? |
I have a bunch of cash sitting here collecting dust, and not doing anything useful.
Additional Details
Ok, so get stocks on oil, ford and coca cola. Got it! Any other suggestions?... |
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 How do i successfully research stocks for myself? |
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 Good time to buy Northern Rock shares? |
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 I need to invest 1 lac. suggest me some ways? |
| I need to invest 1 lac in india. suggest me some ways .... |
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 What could a person invest in at a time when the economy is so unstable? |
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 If someone has 100K and want to buy stocks? |
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cmhohioman | I am due to inherit about $ 400,000 worth of Abbott Laboratories stock from my dying father.? |
I am currently 40 years old and my sister told me that I would inherit $ 400,000 worth of Abbott Laboritories stock.I work as a Registered Nurse and currently earn about 57,000.00 a year....I know not very much money for a healthcare professional.However..I have currently $36,000 worth of student loans at 8.25%.I'm currently renting at 675/month. and would like to buy a condo for around 250,000.Should I use the stock to pay off the student loan and buy the condo out right with the stock I inherit...therefore not having to make a house payment or interest on student loans....or keep the stock and not touch it...I could therefore use my income for deferred investment ...ADVICE Please????
Additional Details
The condo I would like to buy is priced around $ 250,000.00.I live in Columbus Ohio...I make $57,000 a year as a Registered Nurse.I mean a decent condo in a desirable area like Downtown Columbus where many young people are moving to run around $ 250,000...actually most are $300,000 and up++++ |
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equityhawk
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Easy does it! My guess is that you have received a similar array of answers to this important question from a variety of well-meaning people. In your case, knowledge is going to be the power that will get you to your goal with surprising success. You should begin this financial plan with professional help from two kinds of experts: a tax attorney and an investment counselor/advisor. I might add that you should seek referrals - another critical step in your mission. Assuming that your father (or the individual who granted him the stock) worked for Abbott Labs, the shares were purchased at different intervals over the years. Either Abbott Labs or an investment advisor can help you find the dates and prices of each "purchase". The tax expert will help you decide which shares to sell, based on the tax consequences. ONLY AT THAT TIME, would you want to make any decisions on liquidating the shares. Abbott is as American as American Pie, and is a rock steady company. But, the price per share on December 1, 1998 is exactly the same as the 12-27-06 closing price. The dividend rate is less than 2.25%. Since there is a handful of companies of similar or higher investment grade and greater potential for growth, you would be wise to work on a liquidation strategy. It is quite conceivable that you will be able to liquidate enough shares to pay off your student loan (which is more than three times the dividend rate from your stocks), make a downpayment on the condominium and reinvest some of the cash in a good growth company for another five or six years. Although it sounds like a good idea to give a finance company the total payment for a new house, it really is not. In a final word, please don't allow yourself to be swayed by rank amateurs. As much as 2 percent of the stock value can be well invested to get rock solid advice. Stay away from novices and hackers. All the best! |
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D N
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Hold onto the stock, or a good portion of it. Condo's are not a good investment - you are buying air, other people's rules and paying a monthly fee (like rent) that increases year-over-year. Buy anything on land as that is real estate which will increase in value.
I would suggest paying off your student loans with a portion of the stock sale.
Don't rush into anything. Consult a certified financial planner and get their unbiased and educated opinion.
Best of luck. So sorry about your Dad. |
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Mere Exposure
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You can't for sure count on the value of the Abbott stock in the future or the market overall, not on real estate capital gains, or even your job. You can count that having outstanding loans accrue interest. You describe $286,000 in expenditure so it still leaves you a decent chunk of change for investment after the fact. I would for sure eliminate the unsecured debt. The deferred income investment is what my wife and I did also and it is working out well. I personally would not payoff the mortgage in full as there are mortgage interest deductions and I always earn more on investments than standard mortgage costs. If you can too great, if not then paying down the mortgage will be a better yield for you. You know to stay diverse, why go all in on one choice? |
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dawn18415
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It would appear as though you have about 8000 shares of the stock current price 49 a share.there for the dividends alone are about 2000 a quarter i don;t know how much you school loans are but use the dividends to make loan payments its painless.Also when you get the stock it will be at a stepped up basis so if you sell right away you will not owe capital gains taxes.And another thing don't let some planner talk you in to some cd or mutual fund,abbott is a very safe stock,and just so you know it is up over 1500 fifteen hundred percent in 25 years,if it were me i would keep the stock and use those dividends for debt reduction.While the dividends would be reducing debt the stock would have the potential to increase net worth.and if you were really worried about it going down a lot call the stock broker and purchase puts which will lock in your gain if the stock craters. |
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Tanya
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take half of the the $400,000 pay off your student loans and with the rest put towards a new place. |
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barb
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pay off the student loan, invest the rest, and live off your wages. |
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warren_zevon_1
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An effective answer to this question requires additional information, including what, if any, other debt you have at what interest rates, your credit score, whether you have other investments, including, but not limited to, a 401k plan at work, any IRA's, stock, savings, etc.
If you can expand the information available, then answerers can provide more effective advice. |
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Ahwell
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If it was me, I'd cash in the stock and pay off the debts, buy the house and live mortgage and rent free. However, although I know a bit about financial affairs in England, I don't know enough about the tax situation in the US and how you stand if you do cash in. You need to seek some professional financial advice from a reputable firm of independent advisers. |
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Frank Castle
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I suggest you to keep paying your student loan as usual.
I suggest you to buy a $125,000.00 house with a down payment as small as possible for as long as possible and at the lowest fixed interest rate possible.
Any decent Mutual Fund will get you 16.50%
I suggest you to save and invest at least half your salary until you have enough to pay your entire student loan.
It's not wise to keep all your money in one company.
I suggest you to sell $320,000.00 of your stock and invest in other companies.
This means you have to invest in at least 4 more companies.
If you need more detailed FREE financial advice then let me know.
Top 5 Answerer. |
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Franco
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The safest and best way is to sell enough shares to pay the student loan and buy your condo.
There is nothing like owning the roof over your head and being free from debts. Then live well on your salary and reinvest your dividends into more shares.
At this rate you will be voting Republican next! |
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ANSWER MY QUESTION!!
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Consult a tax lawyer. They have tricks to save you bocu bucks in taxes. That's why rich people stay rich. There might be some stock option where you can do a rollover, but since it's an inheritance it may not work the same way. Sorry to hear about your dad. |
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