I'm looking for recommendations to calculate whether NUA is worth it when selling some of my ExxonMobil stock in the 401K plan. I have blocks of shares ranging from 14 dollars a share up to 113 dollars a share. Would the folks from Voya be able to run the calculations for me before selling or should I find a CPA to crunch the numbers? Thank you for responding!
6 replies (most recent on top)
Worth it for me. Have your accountant do the math for your case.
Hi Boss!
Wasn’t worth it for me , be careful
- make sure you can pay any tax obligation on NUA, 2) having NUA shares is great because then you can use covered calls to exit. Coverd call premiums can substantially increase your dividends, 3) NUA shares are great for donating to chartity or Donor advised fund (charity). 4) solid dividend income means you can delay RMD or reduce IRA withdrawals. 5) having NUA shares gives great source of extra income if you need to fund house repairs/car/college weddings,
Talk to an Independent Financial Advisor such as Merril Lynch, Bogart Wealth, Edward Jones, ... etc.
I did NUA and don’t recommend it … reasons:
- XOM isn’t a good stock … you’d be better diversifying your portfolio
- IF you do NUA, you’re stuck with 14$ shares with a large Capital gains
If I were to do it again, I’d just bring all the shares over to the IRA and decide what to do based on market conditions