Thursday, August 21, 2014
Mutual Fund Sale: ABALX
I started the year wanting to transition from mutual funds to stocks and today I sold off my shares of ABALX. I owned 589.16 shares and the sale price is $25.61. The proceeds are $15,088.34 and this will reduce my yearly divideneds by $229.34. The S&P 500 is current sitting at 1991.
I probably won't sell any more mutual fund shares this year because the taxes from the Intel sale, this sale, and my dividends are starting to become scary.
There are no immediate plans to reinvest the proceeds. I certainly want to continue the diversification process going forward. I will be looking for larger block purchases separate from my normal weekly purchases much like when I invested in KRFT and AFL after selling the INTC shares.
BBL is high on my radar since its recent pullback and I would also like to buy JNJ and XOM. I may just pull the trigger on all three even though the market continues to make new all-time highs.
Again I don't believe in timing the markets because it doesn't seem to pay to wait. I will continue dollar cost averaging throughout all market cycles until I reach enough passive income to exit the rat race.