Stop reinvest dividends on taxable?

[mrfeh]

Now if you didn't need cash for spending if you had a pension or SS that covered all expenses, then I could see the argument for auto reinvestment.

It doesn't make sense in that situation either, as explained:

Automatic reinvest creates additional shares at the dividend distribution price. It's nice to get more shares, but: (1) may not fit in with your asset allocation plan, and, (2) creates a bookkeeping nightmare.

If taxable divs aren't needed for spending, allocate them according to your AA.

 

[audreyh1]

It doesn't make sense in that situation either, as explained:

Automatic reinvest creates additional shares at the dividend distribution price. It's nice to get more shares, but: (1) may not fit in with your asset allocation plan, and, (2) creates a bookkeeping nightmare.

If taxable divs aren't needed for spending, allocate them according to your AA.

Yep, my dividend and cap gains distributions are pretty much always reallocated when rebalancing my AA plus funding the annual withdrawal, so it’s far simpler to turn off auto-invest.

 

[MarieIG]

Because I divested myself of some (expensive) funds in 2022 year I tax loss harvested.

My account is at TD Ameritrade but the rep works for Schwab. When I went down to the office to meet with her, I asked her about tax loss harvesting. She showed me that the software program allowed me to choose a tax efficient choice. I didn't have to identify the specific lot myself; and bingo, more than enough losses to cover 2022 gains, and some for 2023.

 

[SunGuy]

My mother just realized that she never turned on DRIP in one of her accounts, had over $18k in the account unused last year. She missed out on some great buys/reinvestments.

I would hate to see that happen to someone.

Retirees can get better use out of not reinvesting, and I consider it too sometimes, but since I invest over 50% of my take home pay each month into mostly new stock buys, I want to reinvest everything I get from their dividends so they can grow over time.

Since I am 30 or so years away from 65.