By the time you retire, even if you live a simple life, you may have a huge gain in a stock that you acquired many years ago. Time works wonders.
Such is the case for “Elaine,” a reader whose identifying characteristics I’ve changed. Through the years, she had delayed selling a certain stock to avoid capital gains taxes. Now, it has grown into her largest asset by far, worth an astounding $2.5 million, most of which was gain.
If Elaine sold the stock in order to diversify and create income for...
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