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My father recently passed away Feb 15th 2007.I am slated to inherit $400,000 worth of Abbott Labs stock?
I am currently 40 years old.I work as a Registered Nurse in Columbus Ohio USA.I earn roughly $60,000/year.I rent currently and pay $675/month for rent.I would like to sell off so many shares pay off roughly $35,000.00 worth of nursing student loans and sell off enough to put a 20% down payment on a $300,000 condo/house…(avoid PMI insurance) then finance the rest of the mortgage @ 6.0% 30 year loan.Then reinvest some of the stock in T Rowe price international aka Latin America…European invest ments and keep some invested in my fathers choice Abbott Labs…ANY Advice?????..Am i spending too much on a condo in Columbus Ohio USA..i mean there is a push to revitalize Downtown area in Columbus…I don’t want to move way out in the Suburbs of Columbus..It seems the closer you are to Downtown city center you pay more and get less space>
One responder suggested paying attention to the tax consequences of selling the shares. Your cost is the cost on the day you inherited the shares. Use that. To make your decission. Abbot is an excellent company. No doubt about it.
Actually from you plan, you should be answering these questions instead of asking. Well thought out.
I do however have some suggestions. Think carefully about the risk of investing in especially developing countries. It would be a pitty to take a big hit on your investments. Most advisors would recommend no more that about 10% of your investments in developing areas. They are very volitile. Chinese stocks lost 10% last week.
Heck, I do not know beans about property values in Columbus. But with $300,000 you could buy 1/2 the town of Muncie. Or a large estate 20 minutes from Ball Hospital. Why don’t you move here?
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