I am debating the best way to protect my retirement savings (mix of after tax, IRA and Roth) since I am over 100% invested in Tesla and very near retirement (am I the most aggressive bull here?).
I can still retire on 60% of my current holdings so I am considering setting up sell limits as follows:
Stock price is $335 as I write this.
Sell 50% of holdings when stock falls to 80% of current value ($268.00)
Sell 25% of holdings when stock falls to 70% of current value ($238.00)
This would leave me at 57.5% of my current holdings in stock and still have 25% of my current Tesla shares.
I am aware other strategies would be diversification or options, but I'm leaning towards the above.
Would love any feedback, links that might help or to hear other strategies people are pursuing.
I can still retire on 60% of my current holdings so I am considering setting up sell limits as follows:
Stock price is $335 as I write this.
Sell 50% of holdings when stock falls to 80% of current value ($268.00)
Sell 25% of holdings when stock falls to 70% of current value ($238.00)
This would leave me at 57.5% of my current holdings in stock and still have 25% of my current Tesla shares.
I am aware other strategies would be diversification or options, but I'm leaning towards the above.
Would love any feedback, links that might help or to hear other strategies people are pursuing.