My elderly mother expressed to me today that she would like to cash out on $100k in stocks, which is half her holdings, because she has lost $80k this year and would like to claim the loss for a tax benefit next year. She also would like to buy a truck and pay some income tax on some farm rental property, but I think she can afford those things without cashing out and I seriously question if now is a good time to cash out on stock holdings. If the market is down and you can afford to invest more, doesn't it make sense to do that instead of sell?
The numbers: she has $204k in stocks and is considering selling $100k. The value dropped from $280k a few months ago, within 2020.
Any advice is much appreciated! This is obviously not my area of expertise, but I'm trying to help her avoid making a bad decision and she's asking me.
Submitted April 10, 2020 at 06:34PM by spzlops https://ift.tt/34sm8Kd
