With Inflation Lingering, Is It a Good Idea to Sell Your Stock?
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Americans continue to be beleaguered by the high cost of living, with prices of everyday items like groceries and gasoline remaining elevated despite the Federal Reserve’s attempts to rein in inflation. The Fed's two-year campaign to cool inflation brought rates down to 3% from 9%, yet in the last six months, its strategy has worn thin and inflation has ticked back up to 3.5%. As consumer prices continue to erode purchasing power, some people now find themselves in a position where they are forced to tap into their investment portfolios and retirement accounts in order to find temporary financial relief.
Contrary to popular belief, there are cases in which it might be appropriate to lighten your portfolio or even dip into your retirement savings. However, these are rare events, and withdrawing from your investments means missing out on future growth potential in exchange for a short monetary reprieve, so the decision to do so shouldn’t be taken lightly.
Here’s what you need to know if you ever plan to sell your stock.
How to sell stock in a brokerage account
