My net worth for April is very positive largely due to a rebounding market. I am also hoarding cash a little bit to prepare for my eventual move to DC with my boyfriend.
I also have some Stubhub ticket sales from the Washington Capitals playoffs. I made quite more than I initially thought I had, which is good because I want a new Mike Green sweater for next year. I might get a Varlamov one. Not sure yet, but I digress. The point is that I have about $400.00 in revenue headed my way. I could snowflake that towards debt, but I must say, splurging on a new sweater seems an appropriate guilty pleasure. (And I’d still have money to snowflake!)
The stock market rebound has been great for me. I’m still not anywhere close to where I was a year ago, but I had one stock move into positive territory so I got to sell it off and double down on a few other dividend paying stocks I’m holding. I can hold those forever till there is a positive return in stock price and rake in the dividends. My ESPP holdings are also doing well. Unfortunately they are doing so well that I may have to stop contributing to them lest they start to become more than 10% of my entire investment portfolio.
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{ 2 comments… read them below or add one }
Good for you! One of these days I’m going to understand your investment-speak without having to look stuff up…
Why would you stop contributing to ESPP and not sell shares and lock in gains? I’m not sure how your plan works, but if it has a look back clause in it, you could lose out on a bunch of potential short term gains with very little risk. In my experience, most plans give a 10-15% discount as well, so assuming you sell right as soon as you receive shares, it seems difficult to lose money. I do agree that you shouldn’t hold a significant amount of ESPP shares, since you say you already have sufficient exposure to company stock, and of course you’ve got exposure to them since they’re your current employer.
The only reasons I see to stop contributing to an ESPP plan is if you know you’re going to be leaving your job before the end of the period, you need extra cash flow, or you have debts with extremely high interest rates. This assumes the plan is worthwhile, some of them have lock out periods and won’t allow limit sell orders etc, but I figure since you’ve got so much invested in it, it can’t be that bad.