This is where I'm at financially:
Cash savings: ~$39K
Apple: market value ~79K
Citibank: ~7K
BAC:~$600
Gold SPDR:~2K
401K:~$54K (S&P 500 Index)
Overall Apple is up about 13%, Citibank up 15%, BAC down 92%, Gold down 40%, 401K YTD basically flat.
I had BAC since the Countrywide days and selling it will allow me to write off $3,500. I've had the gold for a few years and selling it would yield a loss of about $2,000. I hear that gold is going to go for another nosedive next year when interest rates might continue to rise. I just don't see any hope that it will recover any time soon. I'm thinking of just selling and moving on. Do you guys think that is reasonable? I haven't traded anything this year so the loss will offset my ordinary income which is in the 25% bracket. I was considering selling BAC but I believe I can only write off $3,000 in capital gains losses every year and I might save it for a year where I have short term capital gains to write it off against.
Anyone have any suggestions or advice in general?
I am contemplating putting some of the cash into some Vanguard index fund as seems popular...but I already have my entire 401K in that so should I be putting more eggs in the basket...