Q&A: I am attending college here in Columbus Ohio USA working on my Master’s degree in Nursing (MSN)?
Question by cmhohioman: I am attending school right here in Columbus Ohio USA running on my Master’s stage in Nursing (MSN)?
I am attending college here in Columbus Ohio USA working on my Master’s degree in Nursing (MSN)
Question Details: I am going to school fulltime and working part-time.I inherited cash from my deceased father and was wondering whether to use $ 220,000 dollars to buy a 2 bedroom 1250 square feet condo or stay it invested in Abbott Laboratories stock??? I currently hire $ 675/month but my building is being sold and I’m sure they will raise the rent.Would i do higher by keeping it invested or buying a place with no mortgage payment.
Best answer:
Answer by Darn Dave
There are way too many variables to give you a good resolution on the information provided. How long will you stay in the area? What is the trend in real estate prices in your neighborhood? What other assets, liabilities, income and expenditures do you have?
Seek the service of a Certified Financial Planner to help you sort through all the questions.
One factor I can tell you: move the money out of the stock. do not be invested in a single stock, there is too much possibility there. I have nothing against Abbott Labs, I just don’t recommend being invested in one stock, no matter how just right the company is. If you decide to invest, set up a diversified mix of mutual funds, tailored to your risk tolerance and time horizon.
Good Luck!
Know better? Leave your own answer in the comments!
Thats a tough question. If you take the money out now you only have to pay taxes on the increase in value since the date of his death. And if you sell the Condo you can exempt 250 thousand of gain from taxes, as long as you lived in it for two years. Abbott is safer than most stocks. I would compromise and take part of it out to buy the Condo. Its also a good idea to diversify between real estate and stocks. Keeping part of it in stock it would be more liquid than a Condo, in case you needed money.
June 3rd, 2012 at 3:41 am