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Need to sell stock. Do I have to convert my shares to Class A?
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 988443" data-attributes="member: 12570"><p>I was a Dave Ramsey disciple during the nearly 3 years that it took me to erase $48K of personal debt. The feeling of waking up each day debt free is well worth the struggle it took to get there. That being said, I think you are being short-sighted by looking to sell your stock. UPS stock is a good dividend stock which, if left alone, could provide a source of retirement income. There is also a tax implication if you do choose to sell your stock.</p><p></p><p>My advice would be to proceed with gazelle-like intensity without touching your stock, 401k or other retirement iinvestments. This can be hard to do. When I started my program I haad $48K in debt and a 401k balance of $60K--it didn't make sense but I am so glad I didn't touch my 401k.</p><p></p><p>Sort your debt by balance and interest rate. If all of the interest rates are fairly close to one another then start with the debt with the highest balance. Pay the minimum on your other debt while paying all that you can to the highest balance. Once that is paid off go to the next highest and so on. This is called the snowball effect.</p><p></p><p>I made myself a binder in which I kept a monthly update of my progress. I listed all of my debts and their balances on the first and last of the month. I also kept a running total of the amount my total debt was reduced. When a debt was paid off I took it off the list. When my last debt was paid I put the binder on a shelf as a reminder where it still sits today.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 988443, member: 12570"] I was a Dave Ramsey disciple during the nearly 3 years that it took me to erase $48K of personal debt. The feeling of waking up each day debt free is well worth the struggle it took to get there. That being said, I think you are being short-sighted by looking to sell your stock. UPS stock is a good dividend stock which, if left alone, could provide a source of retirement income. There is also a tax implication if you do choose to sell your stock. My advice would be to proceed with gazelle-like intensity without touching your stock, 401k or other retirement iinvestments. This can be hard to do. When I started my program I haad $48K in debt and a 401k balance of $60K--it didn't make sense but I am so glad I didn't touch my 401k. Sort your debt by balance and interest rate. If all of the interest rates are fairly close to one another then start with the debt with the highest balance. Pay the minimum on your other debt while paying all that you can to the highest balance. Once that is paid off go to the next highest and so on. This is called the snowball effect. I made myself a binder in which I kept a monthly update of my progress. I listed all of my debts and their balances on the first and last of the month. I also kept a running total of the amount my total debt was reduced. When a debt was paid off I took it off the list. When my last debt was paid I put the binder on a shelf as a reminder where it still sits today. [/QUOTE]
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Need to sell stock. Do I have to convert my shares to Class A?
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