Not sure what to do? As a start, visit The Black Wealth Network Web page at www.bwnonline.com. The site offers a primer on investment options, and if guidance is needed, Washington says investors can reach a real person to answer their queries by calling 877-728-3359.
If your investment choices have yielded a mix of thoroughbreds and nags, think carefully before unloading any losers to offset capital gains. “Whatever your sell discipline, you should stick to it,” says Washington. “Selling stock just to offset capital gains can be a mistake, depending on why you bought the stock and what your investment objectives are.” Reevaluate the loss limit you originally set for each stock and determine its prospects for recovery before selling.