Hey so my wife and I inherited an account that had been invested in RWT for a long time 10,000 shares. It was left by her grandfather and invested by her dad. 100% of it in RWT which is a very high yield dividend REIT. So basically whatever the dollar amount it's got 50,60,70k in it. It at one point had been up to 140k! But it wasn't in my power to sell or make any moves. Her dad is holding a ton of his own and his plan is to look away for a couple years. I'm much more concerned. I've been wrecked in the past holding too much of one stock or crypto and have generally had success being more diverse. We are having a baby and aren't exactly well off. We've talked about selling but I've been traumatized in the past just pulling the trigger at the wrong time. And now it has sunk 20+% in the past few months down to about 55k. My gut is telling me to get out but it's also telling me that now is a bad time to sell since it's been tanking. Of course it could dip much further but the last thing I want to do is sell low and then invest into another stock that ends up tanking. My hope would be to make an exit around $6.5-7.5 a share (originally $10) I think the share cost when we inherited was around $6.8 a share but I may be mistaken. We have about 30k in a HYSA but with my wife pregnant and mortgage payments, it's going to inevitably sink. Part of me just wants to cut losses and have an extra 50k of cushion for raising a child and security but I'm also banging my head against the wall about selling low when it was at 60k+ even just a couple weeks ago! Thanks for any two cents.
