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Message
Need some investing advice
Posted on 12/27/14 at 9:14 am
Posted on 12/27/14 at 9:14 am
MY current situation:
Have roughly 50k in exxon stock that was invested 30 years ago or so. It does not really make anything and puts out a dividend every year that we take out and use.
I did a mock stock move to Altria based off of people on this site and as compared to our exxon for the last 2 years trying to get an apples to apples comparison.
Exxon averaged 2%
Altria averaged 40%
Haven't been to happy with our broker as she keeps trying to talk us out of changing or moving stocks.
I think we could have been doing so much better and growing "free" money but have missed a big opportunity.
any suggestions?
Have roughly 50k in exxon stock that was invested 30 years ago or so. It does not really make anything and puts out a dividend every year that we take out and use.
I did a mock stock move to Altria based off of people on this site and as compared to our exxon for the last 2 years trying to get an apples to apples comparison.
Exxon averaged 2%
Altria averaged 40%
Haven't been to happy with our broker as she keeps trying to talk us out of changing or moving stocks.
I think we could have been doing so much better and growing "free" money but have missed a big opportunity.
any suggestions?
7
Posted on 12/27/14 at 9:20 am to mandevilletiger34
quote:Did you include the adjustment for the capital gains taxes you'd have to pay if you sell the XOM shares, assuming it's in a taxable account and not an IRA? You would probably have to pay 15% L-T capital gains tax on the profit (sales price minus your cost basis) you'd make selling the XOM.
I did a mock stock move to Altria based off of people on this site and as compared to our exxon for the last 2 years trying to get an apples to apples comparison.
Posted on 12/27/14 at 10:03 am to mandevilletiger34
If you have $50k worth of Exxon stock that was bought 30 years ago, I don't understand how that dividend check isnt massive. How many shares?
Posted on 12/27/14 at 10:30 am to TigerTatorTots
411 shares
Posted on 12/27/14 at 10:41 am to TigerTatorTots
quote:
If you have $50k worth of Exxon stock that was bought 30 years ago, I don't understand how that dividend check isnt massive. How many shares?
I assume $50k present value, not $50k when it was purchased. $50K worth 30 years ago would be a fortune right now.
Capital gains will have to be paid on pretty much all of it.
Posted on 12/27/14 at 10:46 am to studentsect
its actually 38K present value with 10k we were going to add to it after the 1st
This post was edited on 12/27/14 at 10:50 am
Posted on 12/27/14 at 11:13 am to mandevilletiger34
How old are you and when do you need the money?
If you re-invest dividends, you will be able to compound starting with about 12 shares per year added. If you are young, I'd say keep with what you have, avoid the LT Cap gains taxes, and grow your XOM pot.
If you re-invest dividends, you will be able to compound starting with about 12 shares per year added. If you are young, I'd say keep with what you have, avoid the LT Cap gains taxes, and grow your XOM pot.
Posted on 12/27/14 at 11:36 am to TigerTatorTots
I need roughly 2k in dividends every year.
I am mid 30's and this is basically my retirement plan.
I am mid 30's and this is basically my retirement plan.
Posted on 12/27/14 at 11:49 am to mandevilletiger34
I'm certainly not one of the finance gurus here but I would think this is an extremely bad idea to only rely on this for your retirement, if that is your only planned source.
Posted on 12/27/14 at 11:53 am to mandevilletiger34
quote:
Have roughly 50k in exxon stock that was invested 30 years ago
quote:
its actually 38K present value with 10k we were going to add to it after the 1st
Make up your mind. If you're concern regarding the average return of Exxon and considering Altria, Why don't you just diversify and put the extra 10k in Altria or another stock that you think would do better than XOM?
Posted on 12/27/14 at 1:22 pm to Odinson
quote:
If you're concern regarding the average return of Exxon and considering Altria, Why don't you just diversify and put the extra 10k in Altria or another stock that you think would do better than XOM?
Yea I don't see why this is an either/or decision; not sure why it all needs to be in cigarettes or oil. I also think looking at 2 years of returns for a 30 year investment is probably not a great plan.
Posted on 12/27/14 at 3:43 pm to mandevilletiger34
You need to adjust your thoughts on retirement big time. I would highly recommend seeing a financial advisor to get a strategy figured out. XOM is famously conservative and disciplined as a company, but it's still never advisable to just have your retirement based on a single company.
Posted on 12/27/14 at 5:44 pm to mandevilletiger34
quote:
puts out a dividend every year that we take out and use.
well here is part of the problem, leave it alone and reinvest the dividend and forget about, thank me at retirement.
Posted on 12/27/14 at 7:44 pm to Lakeboy7
right now i need the cash every year.
my main concern is that it only has made 3% in the last few years. should we consider moving it into some better performing stock or should i be happy with 3%?
my main concern is that it only has made 3% in the last few years. should we consider moving it into some better performing stock or should i be happy with 3%?
Posted on 12/28/14 at 2:46 am to mandevilletiger34
Then you aren't really saving for retirement. How do you think you will have any money at retirement if you keep taking out your dividend and spending it
Your problem is way beyond what stock to pick.
Your problem is way beyond what stock to pick.
Posted on 12/28/14 at 7:49 am to mandevilletiger34
Invest the $10k in something else if you are concerned with recent performance. However, capital gains make selling your current shares a risky move. How are you going to recover that lost value plus an additional 5-20% (whatever your goal)?
Posted on 12/28/14 at 9:10 am to Odinson
quote:
quote:
its actually 38K present value with 10k we were going to add to it after the 1st
Make up your mind.
If you're concern regarding the average return of Exxon and considering Altria, Why don't you just diversify and put the extra 10k in Altria or another stock that you think would do better than XOM?
I'm so confused. He has $10,000 extra dollars lying around, yet NEEDS a $2,000 yearly dividend payment for something other than reinvesting?
Posted on 12/28/14 at 9:21 am to mandevilletiger34
50k worth of stock that you pull 2k a year out of isn't a retirement plan
Posted on 12/28/14 at 9:22 am to mandevilletiger34
quote:
Haven't been to happy with our broker as she keeps trying to talk us out of changing or moving stocks.
I don't think she's the problem.
quote:
I'm so confused. He has $10,000 extra dollars lying around, yet NEEDS a $2,000 yearly dividend payment for something other than reinvesting?
Yeah. That.
This post was edited on 12/28/14 at 9:23 am
Posted on 12/28/14 at 10:14 am to GaryMyMan
I know i confused some...sorry. I really value the information that comes off of this board. trying to be kind vague for prying eyes.
I have 38k in exxon right now
Use the 2000 dividend every year for property taxes.
received a 10k gift this year and want to invest it to try and bump the 38k so the dividends can increase?
new to investing, but feel as though our money could be doing a little bit more to help us than it currently is.
I have 38k in exxon right now
Use the 2000 dividend every year for property taxes.
received a 10k gift this year and want to invest it to try and bump the 38k so the dividends can increase?
new to investing, but feel as though our money could be doing a little bit more to help us than it currently is.
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