Just a friendly reminder to never own company stock. If you do, make sure it is 10% or less than your portfolio. Can you imagine the ones who contribute to their 401k and have 100% WFC and don't rebalance the contribution lmao. I know so many of these people that have no clue and it's just plain laziness. If they had 100k in there a year ago it's probably like 50k or 60k now.
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Lol. I bought 500 shares around 24. Now it’s almost 30. Over 3k. It will go back up further. Going to leave my match in there. Prob fall back at 32 so will sell and grab it again at 26
Truthfully those who don’t already understand and follow OP’s advice should not be working in financial services. We apparently hire many people without a basic business education. Outside of tech, everybody should understand basic finance, accounting and economics.
Very risky to own stock in the same company you work for. High likelihood you'll be let go precisely when your company's struggling, meaning you'll have both lost a job and taken a short-term (minimally) hit to your 401k.
Post ID: @2znp+18tIL4NO
People hating on the OP for the self-righteous attitude, not the advice.
Unless you work for a young fast growing company, this is always solid advice. No idea why people are hating on the OP, it's legitimately good advice that just about every real financial advisor in the country would agree with, and yet people keep doing it (keeping all their eggs in one basket).
Thankful to have my job, but WCHV and WFC have done nothing but burn their employees when it comes to owning the stock.
@mli tell that to the people who owned Wachovia stock a dozen years ago and are still under water.
if I was retiring in the next couple years I'd be worried but of you are young and have a couple economic cycles left before you retire WF stock could be a big win a few years from now. lots of people went all in when the stock was less than 10 post housing bust and if they moved it out before the current rundown are doing just fine.
Despite the blowback here, it is actually good advice
Not only does this post have nothing to do with layoffs, it's also pointless, except for the self-important OP to trumpet how brilliant he/she is at investing. Unsolicited advice from a patronizing,
anonymous jerk. What a gift.
Is my problem that I own too much company stock... or is it that I work for Wells Fargo rather than Tesla? You got me but my investment strategy would have been genius if only I worked for Tesla :)
Thanks Warren. I appreciate the tip. /s
Your tip would be taken more seriously if you hadn’t said you were lyao and called people lazy. Posters/commenters might have something valuable to say, but aren’t heard because they can’t seem to resist coming across as smart-asses and know-it-alls.
I love anonymous investing tips on the internet.
Problem is with the 401k change you won’t be able to do that for a couple weeks. Coincidence this is at year end when you are getting the year end deposit.
Next year you will have to wait a year to get it. Wonder what they’ll have planned then.