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Strategies & Market Trends : Young and Older Folk Portfolio
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To: Diddywahdiddy who wrote (7987)8/12/2024 6:45:43 PM
From: chowder1 Recommendation

Recommended By
agniv

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Yes, the Senior Citizen Portfolio has a healthy "Success Tax" obligation this year and doesn't have the capital losses to offset the gains. It did raise his tax bracket I think, but we thought that given his age, and given that capital preservation is also important, it was better to realize some gains and pay the tax as opposed to risking the market taking those gains away.

It's always a tough call when managing someone else's money, but I thought it best to err on the side of caution. If I kept positions as large as they were, and they turned against him, given his age those losses might have been permanent since he might not have had time to make them back up.
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