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<blockquote data-quote="moreluck" data-source="post: 282112" data-attributes="member: 1246"><p>2years2go...I know a lot of them were told by their financial planners to sell stock, pay off debt (like house & any hypo loans, etc) so they can be relatively debt free.....and also to diversify. </p><p> </p><p>That "hit" that you refer to is harder to take than you might think.....if you sell stock to pay debt or to re-invest, you pay the IRS and then you have to sell more to pay the IRS this year and then sell more to pay the IRS next year....it's a vicious cycle. Nobody wants to owe the IRS $20,000, $30,000, $40,000 or more every year.</p></blockquote><p></p>
[QUOTE="moreluck, post: 282112, member: 1246"] 2years2go...I know a lot of them were told by their financial planners to sell stock, pay off debt (like house & any hypo loans, etc) so they can be relatively debt free.....and also to diversify. That "hit" that you refer to is harder to take than you might think.....if you sell stock to pay debt or to re-invest, you pay the IRS and then you have to sell more to pay the IRS this year and then sell more to pay the IRS next year....it's a vicious cycle. Nobody wants to owe the IRS $20,000, $30,000, $40,000 or more every year. [/QUOTE]
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