Hi Guys and Girls,
I'm a long time lurker, dropping in and out to read the enormous amount of valuable information and discussions posted on this forum.
I've finally set up an account and I was hoping to put a question or two to the forum as i've found myself in a rather fortunate scenario.
Basically, ive come into some money after joining a new company and i'd like some advice on what people would do if they were in my situation.
Some details:
I'm 32y.o, married, no kids
I owe the bank about 550k on my PPOR, it's probably valued at around 650-700k
I have $1.4mill worth of stock in a public company. $700k of this stock is escrowed till i retire.
At the end of June I will have the chance to sell 50% of my holding in this stock if i wish to. This non-escrowed component of my holding can be sold at any time after June.
I have a loan of $120k for this stock.
The stock was purchased in Dec 2013.
Basically, I was wondering if I could please get the boards opinion on what they would do if they were in my position.
The main thing I was considering doing was to sell the 50% non-escrowed component in Dec 2014 (after holding stock for 12 months for tax purposes) and along with our savings pay off the mortgage on our PPOR
not very sexy, i know, but paying off all our non-deductable debt seems like a smart, albeit conservative thing to do?
We would then have no debts and a lot more disposable income to invest rather than sinking into the mortgage.
Anyway, I'm very interested in hearing the boards thoughts on various other options etc. All advice is appreciated.
-please advise if you need any further info to help give advise
Thanks a lot.
I'm a long time lurker, dropping in and out to read the enormous amount of valuable information and discussions posted on this forum.
I've finally set up an account and I was hoping to put a question or two to the forum as i've found myself in a rather fortunate scenario.
Basically, ive come into some money after joining a new company and i'd like some advice on what people would do if they were in my situation.
Some details:
I'm 32y.o, married, no kids
I owe the bank about 550k on my PPOR, it's probably valued at around 650-700k
I have $1.4mill worth of stock in a public company. $700k of this stock is escrowed till i retire.
At the end of June I will have the chance to sell 50% of my holding in this stock if i wish to. This non-escrowed component of my holding can be sold at any time after June.
I have a loan of $120k for this stock.
The stock was purchased in Dec 2013.
Basically, I was wondering if I could please get the boards opinion on what they would do if they were in my position.
The main thing I was considering doing was to sell the 50% non-escrowed component in Dec 2014 (after holding stock for 12 months for tax purposes) and along with our savings pay off the mortgage on our PPOR
not very sexy, i know, but paying off all our non-deductable debt seems like a smart, albeit conservative thing to do?
We would then have no debts and a lot more disposable income to invest rather than sinking into the mortgage.
Anyway, I'm very interested in hearing the boards thoughts on various other options etc. All advice is appreciated.
-please advise if you need any further info to help give advise
Thanks a lot.