Keep my stock or sell and pay off some of my equity line?

Question

I have quite a bit of stock, and a large equity line payment. Should I sell most of the stock to put on the equity line, to get my payment lower?

I can afford my payment, however I am paying interest on debt that I could lower. I am just not sure if I should sell stock to do so.

I know I have to pay taxes on my earnings. Does anyone know the earning limit to avoid capital gains when you sell stock?

Answer 1

I am going to assume that you cannot afford your monthly payment on the home equity line, so I would, in my opinion, say yes, you should sell most of your stock and use the proceeds to pay off some of your home equity line of credit.

Note, however, that when you do sell your stock, you will more likely than not be subject to capital gains tax. If you have the stock in a retirement account like an IRA, you'll be subject to early withdrawal penalties if you're not at least 59 1/2.

You should, however, seek a qualified financial planner or tax accountant to advise you of what your best options are in your particular circumstance. I included some links below for your review. Good luck.

Answer 2

sell your stock. pay off the equity line and reduce debt. then by all means invest.... Why are you relying on your securities? that is supposed to be disposable money. would you find yourself in a lot of financial turmoil or even a crisis if you couldnt tap that money?

Answer 3

Yes. pay off the equity line.

Answer 4

stocks are variable and equity line payments are constant- it is a gamble either way...good luck!

Answer 5

it is vast which you max out your IRA. maximum folk can not gain that. and you been saving on your 401k too. i discover out that maximum 401k's do not do as properly as IRAs by way of fact people have no clue the thank you to take a place of their 401k. they only randomly %. mutual funds and shares that has extreme numbers. although, i does not fund a 401k with shares on condition that they are surprisingly volatile and volatile. What do with the greater suitable $one hundred? you may prepare it to the mortgage fee. i'm hoping there is not any early prepayment penalty on it. in case you want to pay off the mortgage swifter, ask the economic enterprise in case you pays it bi-weekly. Bi-weekly funds chop up your month-to-month fee in 0.5. to illustrate, in case you have been paying $1000/month in direction of the mortgage, you basically could pay $500 each 2 weeks. maximum folk get their paycheck each 2 weeks. or maybe you should use the greater suitable $one hundred and initiate an emergency fund. An emergency fund is an account the place you have rapid get entry to to and could final you for yet another 3-6 months in case something occurs to you which of them incorporate dropping a job or being hospitalize. yet another advice is make investments systematically on your IRA. maximum folk decide to place one lump sum each 12 months into their IRA. whilst that's sturdy, they don't comprehend in the event that they are identifying to purchase shares whilst industry is extreme or whilst it is low. once you make investments systematically, meaning you put in $3 hundred each month in the IRA. What this does is decrease the cost in keeping with share. in case you recognize the greenback value averaging thought, you may see how that decrease the cost in keeping with share. in spite of is left over on the tip of the 12 months, then you certainly max it out.

Answer 6

Keep you stock especially if it's Edison, or Exxon

Answer 7

What is your interest rate and is it fixed or variable?