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  • dowjones1234 dowjones1234 Jun 23, 2008 10:03 AM Flag

    what to do with 4000 shares

    I retired about 10 years ago with 10,000 shares of CVX stock. Every broker, money manager and financial advisor I talked to advised me to derversify. And, I talked to the "best" in the business. I did and I am sorry. Lucky for me I was stubborn about selling my CVX stock and still have several thousand shares left. However, most of the deversified investments that I made with the sale of CVX stock are OK, most have not done near as well as CVX. I would have been much better off now financially if I would have kept all of my CVX stock. As you know, the dividends are great. There you go, 10 years of actual experience. Tough call. Remember, it's your money and ultimately your call.

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    • I worked for Getty/Texaco/Chevron for almost 25 years.

      Financial advisors told me I was putting too much in Getty stock when I started my 401K. I didn't listen. After Texaco bought Getty, they told me every year that I was putting too much in Texaco stock and told me to sell most of it. I didn't listen to them. When Texaco and Chevron merged, they told me I had too much company stock and told me to sell most of it. I didn't listen to them. I retired early in 2006 - hated the moron managers, loved the stock. I had about 6500 or so shares of CVX stock in my 401 K. It was $59/share then. I had a lot of other stuff in the 401K too, but, CVX was the most. I rolled over my pension lump into some Fidelity IRAs, but kept my CVX stock in my 401K. Fidelity told me to sell all my CVX stock. They said it wouldn't get higher than $72 per share. I didn't listen to them.

      My IRAs (managed by professional investors) have been up and down in the 2 years since. My 401K, which I am managing and relying on for income by myself, has been making me about $150,000 per year. I'm making more sitting on my ass not doing anything than when I was working.

      I sell a little bit of stock and a little bit of my other stuff for income. I'm pretty much withdrawing similar amounts of money each month to my former monthly salary.

      I'll probably sell a lot of the CVX in a few years, but, I won't sell all of it.

      Besides, I can ALWAYS get a job at Burger King ("And would you like pickles and onions on that Whopper, Sir?")

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