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Kiplinger
Kiplinger
Business
Maurie Backman

I'm 58 and Just Sold Some Stock to Lock in Gains. I Made a Killing, But I'll Have a Big Tax Bill. What's My Next Move?

Man in his late 50s scrolling on his cell phone in a bright kitchen.

Question: I'm 58 and just sold some stock to lock in gains and reduce risk. I made a killing, but I know I'll have a huge tax bill. What's my next move?

Answer: Despite a steep market decline that occurred in April on the heels of President Trump’s tariff announcement, it would be fair to say that the typical investor is probably quite pleased with their portfolio’s year-to-date performance. In fact, many people have been sitting on significant gains since January.

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