Sell UPS Stock and put into TSP?

[Tieky]

I currently hold 600 shares of UPS stock, I am a federal employee now with at least 13 more years to go before retiring. What does everyone think about me selling this stock and throwing the funds into my TSP? I am not thinking of selling it right now, last time I checked I think it was at $58 a share, I can wait, right now it is not nearly as high as it was about a year and half ago (I think it was $78?)...just seeking other thoughts and comments.

Happy New Year...

 

[jimnjana]

Is the stock in an IRA? Otherwise do you mean you are going to increase your contributions up to your 2010 or future contribution limit by the amount of the proceeds of a sell?

 

[W2R]

I know nothing about UPS stock, but I am a retired federal employee. I am wildly in favor of doing whatever possible to increase the size of one's TSP.

From 2003-2006, my TSP did extremely well in C, S, and I funds.

During the 2008-2009 economic collapse, it was nice to know that my TSP was invested 100% in the G Fund (to which I shifted it in late 2007, in preparation for retirement).

Now that I have retired, I mailed off the forms to start equal monthly withdrawals and I am looking forward to this income stream.

 

[ziggy29]

I don't think UPS will go Enron, but I would do it (I'm assuming the UPS stock is in an IRA or 401K) if for no other reason than to eliminate a lot of single-company risk.

 

[yakers]

I like the TSP a lot and putting all you money there can work, especially compared to just owning a single stock. But if you have money outside of the TSP there are other good things you can do to compliment the TSP which does not have things like REITs, foreign bonds and specific dividend paying or value stocks which may be of interest. And outside funds also allow more flexibility in withdrawals.

 

[Tieky]

Thanks everyone for your comments. The stock is in an IRA, and many of the points made here are ones I lean more towards for my reason for thinking of selling it. As of today, their stock is at $62, but I will wait just a while longer and monitor it before I sell it and move it to the TSP. I appreciate everyone's time to reply.