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re: My Exxon stock just hit a new high?
Posted on 9/28/23 at 6:57 am to LSUnation78
Posted on 9/28/23 at 6:57 am to LSUnation78
quote:
Pay off your mortgage.
This would depend on his rate.
I wouldn't pay anything off under 4% unless the balance is so low it's just for the sake of having one less bill to worry about.
2
Posted on 9/28/23 at 6:58 am to LSUnation78
Exactly, borrow against your equity and invest in a rental or something.
Posted on 9/28/23 at 7:03 am to Porkskins
quote:
Have a little over 5k shares. Trying to figure out a target to sell? Any of you gurus have advice?
Would you buy 5k shares if you didn’t already own them?
The answer to that question will go a long way toward your next steps.
Posted on 9/28/23 at 7:39 am to 632627
Mortgage is at 3%. But if I sell 25% and don't pay off the mortgage....a CD is what, 5% or a little better? Then I have to pay taxes on that interest earned. If I invest in more equities with the money that is a gamble.
Not sure what to do...
Not sure what to do...
Posted on 9/28/23 at 8:29 am to Porkskins
Subtle brag
Posted on 9/28/23 at 8:45 am to JackDempsey
quote:
I invest in more equities with the money that is a gamble.
Picking individual stocks concentrates risk and is a gamble. Buy/hold low cost index funds/ETFs and spread your risk out across hundreds of companies instead. You are gambling with such a concentrated position. Dont fool yourself, not doing anything is a choice no different than picking a single stock to buy.
If you're in the zero LTCG bracket maybe draw down over several years to minimize taxes.
Posted on 9/28/23 at 8:54 am to BourbonDad
quote:
borrow against your equity and invest in a rental or something.
So you're advocating sell stock and pay taxes to pay off low interest mortgage, then borrow against home equity at higher current rate? To buy rental real estate at near peak prices to boot?
Not advocating this but if you really want to borrow against equity, could take out a pledged asset line instead. Stay invested borrow against stock/mutual funds and invest borrowed $. At least that would avoid realizing capital gains and home wouldnt be collateralized and at risk.
This post was edited on 9/28/23 at 8:56 am
Posted on 9/28/23 at 8:57 am to 632627
I mean sure, there are tons of factors to consider.
I have no idea what his mortgage was or is now. But with a 350k house, 20% down at 3%, you’re still paying over 100k in interest over 30 years.
In that hypothetical, paying off that mortgage frees up 1400 a month that can go towards maxing out annual contributions to a Roth.
Again, just hypothetical and there are a ton of factors. Maybe hes already maxing out a roth, maybe already has enough free cashflow to accomplish other investment goals. But for a lot of people, freeing up that much cashflow unlocks possibilities that just wouldnt be feasible while paying a mortgage.
I have no idea what his mortgage was or is now. But with a 350k house, 20% down at 3%, you’re still paying over 100k in interest over 30 years.
In that hypothetical, paying off that mortgage frees up 1400 a month that can go towards maxing out annual contributions to a Roth.
Again, just hypothetical and there are a ton of factors. Maybe hes already maxing out a roth, maybe already has enough free cashflow to accomplish other investment goals. But for a lot of people, freeing up that much cashflow unlocks possibilities that just wouldnt be feasible while paying a mortgage.
Posted on 9/28/23 at 10:49 am to JackDempsey
quote:
Mortgage is at 3%. But if I sell 25% and don't pay off the mortgage....a CD is what, 5% or a little better? Then I have to pay taxes on that interest earned. If I invest in more equities with the money that is a gamble.
Not sure what to do...
What are you doing with XOM dividends? Reinvesting in XOM or using to fund other investments? At nearly 5k XOM shares, that's a pretty nice quarterly payout.
Just a thought, but if you're worried about overexposure to XOM, and don't want to sell for tax purposes, then don't reinvest dividends in XOM. Take dividend payment and put in a high-yield savings account, currently earning 4-5%.
So long as you are beating your 3% mortgage rate risk free, you're coming out ahead. Keep doing that until the high-yield savings rate falls below 3% and then worry about paying off your mortgage.
Posted on 9/28/23 at 11:04 am to Porkskins
Here is my situation with XOM.
Bought 10K worth of it about 3-4 years ago. In a tax-sheltered account.
I'm usually a buy and hold investor that is looking for a growing dividend. I have about 25 positions in various companies, some that I have held for 18 years or so.
I've been thinking of selling this XOM position due to the huge run-up in share value and moving it to Realty Income (O) while high interest rates are beating them up.
This would be the first time that I've ever sold a stock.
Thoughts?
Bought 10K worth of it about 3-4 years ago. In a tax-sheltered account.
I'm usually a buy and hold investor that is looking for a growing dividend. I have about 25 positions in various companies, some that I have held for 18 years or so.
I've been thinking of selling this XOM position due to the huge run-up in share value and moving it to Realty Income (O) while high interest rates are beating them up.
This would be the first time that I've ever sold a stock.
Thoughts?
This post was edited on 9/28/23 at 11:06 am
Posted on 9/28/23 at 11:39 am to TheGooner
quote:
I've been thinking of selling this XOM position due to the huge run-up in share value and moving it to Realty Income (O) while high interest rates are beating them up.
What percentage is commercial real estate in the trust you’re considering? Just curious.
Posted on 9/28/23 at 12:02 pm to Jag_Warrior
O is pretty much totally Commercial Real Estate. I already have a small position in it that I had for about 10 years.
I've always liked O as it throws off a lot of dividends.
I've always liked O as it throws off a lot of dividends.
Posted on 9/28/23 at 12:07 pm to Porkskins
My financial advisor has advice. He has been recommending that I sell my Exxon and Chevron for two years. I am glad I have ignored him so far.
Posted on 9/28/23 at 12:12 pm to TheGooner
Gotcha. Since there’s a large CRE component, I’d approach that one with some caution. I have a smallish position in a regional bank (HBAN), and I’m keeping a close eye on it for the same reason.
Posted on 9/28/23 at 3:43 pm to Porkskins
When do you want to pay the capital gain taxes? In 2024 or 2025. Less than 100 days left till 2024. Will it crash in the next 100 days or hold?
Posted on 9/28/23 at 5:14 pm to Triple Bogey
With the limited info provided…selling calls is a solid answer and what I would be doing.
This post was edited on 9/28/23 at 5:16 pm
Posted on 9/28/23 at 9:49 pm to whiskey over ice
quote:
Subtle brag
Seems like a genuine, “I have a really important question.”
Posted on 9/29/23 at 9:41 am to Porkskins
quote:
Have a little over 5k shares. Trying to figure out a target to sell?
Any of you gurus have advice?
Whether you own 10 shares or 10,000 shares, as others have said, not without you providing some context… at least some information about what percentage of your investment portfolio this position makes up.
Posted on 10/6/23 at 6:52 am to BourbonDad
just like I said, most technical setups are just that. A setup to extract liquidity. Run stop losses of swing shorts and suck in long momentum buyers. Sell into the flow. Accumulate lower, rinse/repeat. This is how market makers move stock around. 
Posted on 10/6/23 at 7:37 am to Porkskins
quote:
Trying to figure out a target to sell?
The day they stop giving dividends.
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