Stock popping today on upgrade, making some money on the match shares.
29 replies (most recent on top)
I wish Empower had faster turnarounds on stock transfers.
I’m sure the OP can tell you when it’ll get back to $65. Seems to possess a high level financial intuition.
Hope no one sold at $50, and more importantly, hope no one comes here looking for investment advice. Good grief!
All-time high is around $65. How long before we see that again?
Ooops. So much for getting my retirement investment advice from anonymous strangers on a message board. Oh wait, I didn't ;)
“ Can’t time the market.”
Yet that was the intent of this thread. 🤣🤣🤣🤣
“ Perfect day to sell WFC in 401k
Stock popping today on upgrade, making some money on the match shares.”
“Up another 5% today. Great advice! Should’ve waited another day.”
Maybe. Yes, it’s up more today, but a bird in the hand is worth two in the bush. Over the last several months, more often, I’ve seen it drop like a rock the following day instead of going up again. Can’t time the market.
Up another 5% today. Great advice! Should’ve waited another day.
For those waiting for WF stock to go up, I have two words for you:
Opportunity Cost
During the time you wait for a miraculous bounce, you could have sold loser WF stock and put $$$ in a winner stock.
I moved my match but I still have some wells stock in my retirement fund.
I do not like empower .
It’s always a perfect day to sell Wells stock in 401 or any account.
The chance of WFC getting to the price target of $62 anytime soon is a pipe dream. We’ll be lucky to stay above $50 for more than a couple days. A solid mutual fund and good diversification will take you farther.
Good point. I’ll reach out to my Wells Fargo Advisor. They are on top of the game!
@bcb+1eCJHqSQ I was able to. I’ve 100% out today
Not at the new price target of $62. Don’t make big decisions like that without consulting someone that knows what they are doing. Actually - I don’t care what everyone else does.
For those moving out of WFC stock, just a heads up that Empower will only allow you to move 90% (not 100%) of the funds at one time. I tried to move all of it out of WF stock to another fund a few months ago, and it blocked me and said the max was 90% in one transaction! So I’ve had to do it in multiple transactions until I am finally down to zero. Starting all over again moving it out now that the match is in there.
Got to call BS. You were lucky a 1/3 was in WF stock. 74% for the year. Next best option 32%. If you were an investment Mgr you’d get promoted.
WFC will go up but it is a fools bet that it will outperform the market.
I’m choosing to believe that @moneybags69 is actually a senior leader of WFII.
"Done!! Didn't know I had over a third of my balance in Wells stock. Not surprisingly, it was lagging behind all of the other 8 options I have in my account."
Stupid me wasn't paying attention, either, and two years back I finally caught on to my own idiocy. Now my matches go immediately into something else, and when the stock goes up to a pre-determined amount, I'm moving most, if not all, of what I still have.
Funny thing is, when you have so much WF stock (it's possible after working at the bank forever), one little change in stock price can have an enormous influence on your 401k balance.
Done!! Didn't know I had over a third of my balance in Wells stock. Not surprisingly, it was lagging behind all of the other 8 options I have in my account.
@sog: (re: empower transfers)
It’s better to do on desktop than mobile. Mobile will only let you do a rebalance by percentage.
Assuming you use a desktop (and I’m going off of memory from 10 minutes ago)…
Click investments
Click manage my investments
Click reallocate current balance
Click Do It Myself
Might be missing a step or 2, but you’ll eventually get to a page with 2 main columns. The left is what you currently own, and the right shows all the available investment options. At the very top there will be tabs to show available options by asset class or investment option (I use the latter).
Find the WF stock on the left side, select the button to choose by percentage or dollar amount. If you want to sell it all, select percentage, enter 100 in the left side, and then you can split that balance up into different investments on the right side. Follow the buttons/prompts to finish. Good luck!
In general banks are a good inflation hedge - Wells is probably not a bad investment. Having said that the 401k option "value fund" is 26% invested in financial services - so that's an option as well...
Also, CS will inflate the stock before he is gone by 2024. Layoffs and attrition will add to the bottom line.
Does someone mind explaining what you do in Empower to move out of the WF 401k match stock and direct that to your already existing investments? Thank you.
Would love to sell, but Empower won't let me sell. Getting error messages
Why sell at $50? Interest rates are going up in 2022. Which means that the Net Interest Income will be up between 10 to 15 percent of the interest rates are raised around 75 points(3 times in 2022) as expected. If you add the possibility of the cap being removed, dividends being raised and buy back program in gear, the stock should be in the $60’s this year imo
I actually just did! I love that my healthy 401k is yet again a WF Stock Free Zone!
And stock just jumped to a little over $50.
Investing advice on an anonymous Internet forum never gets old