Hey blind folks! So way back in Aug 2019, i joined FAANG and received a cash bonus. Added some cash of my own and one of my friend convinced me to invest all that in TSLA - which i am grateful i did. Did not sell any till now. Right now my portfolio is close to 2M for TSLA. I have never been in the stock as an active participant and dont intend to as well. So do you guys think this is the right time to pull everything out? What would be the tax i need to pay if pull everything out? YOE: 12 TC: 270k ( texas)
I need friends like urs
Lol! I am glad he convinced me to do it.
Id say keep until you had it for at least a year. You'll be taxed at reduced rate (like 15% vs 30% short term- depends on your bracket)
I thought this was a totally different question until I read the description.
Lol, makes sense! Edited my description
You should ask your friend lol Anyhoo pulling out everything depends on your need. Traditional wisdom says pull what you have invested and leave the rest for long term.
My friend is gone , he pulled out everything, worth around 4M and retired. I am planning to do that as well
Why would you pull the whole thing. Pull a fraction.
Havent been an active invester of stock and dont want to be.
Pull out otherwise knocked up
Pull out whatever will cover your principal at the least.
My principal was around 200k.
If its been over a year, nothing wrong with cashing in your gains. IMO Tesla’s the new Bitcoin stock right now
I'm pretty sure Bitcoin is the new bitcoin stock right now :P
Yeah they’re both bigger idiot stocks - i.e. “I might be an idiot for buying at that price, but a bigger idiot will buy from me at a higher price”. Pretty sure we’ll see crashes in both (maybe less Bitcoin, its been at these levels before), and people panic-selling to hold onto their life savings driving price down. Then in a few years it’ll work its way back up here and beyond again.
If you pull out all now, you will live happily for 6-7 years with that gain. If after a year then... above for 10 years If after 5 years then... you will make radical changes in your livelihood and quality of life for the rest of the life.
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Always pull out.
What would be the taxes on the gains?
a small price to pay, trust me 👶🏼