My grandma put $1,000 worth of stock into a brokerage account when I was born and I later inherited it when she died when I was 8. Now, I am 24 and through splits and appreciation the account is in a trust worth ~$20,000 all invested into one company (WEC for what it’s worth).
My question is would it be smarter to leave the money untouched as it has been since I inherited the amount or to slowly sell off the stock and use it to supplement my income so I can fully contribute to my Roth IRA and 401k (which I would not be able to do without this supplementation)?
I am currently in a lower tax bracket (I will make ~$30,000 this year) which figures to change quickly as I (hopefully) get promoted.
Any relevant advice is appreciated!
tl;dr: trying to find the best way to allocate $20,000 of inherited stock in the form of a trust.
Submitted October 18, 2018 at 03:56PM by 2bvh https://ift.tt/2yrYEWK
