4 Things Boomers Should Never Sell in Retirement

Core Insights - Individuals aged 57 to 75 are contemplating retirement and may consider liquidating assets for cash, but financial experts advise against hastily selling valuable properties [1][2] Group 1: Financial Advice on Asset Liquidation - Selling appreciated stocks or assets with large capital gains in taxable accounts is discouraged, as it may not be the best financial decision [3] - Holding onto these assets can provide tax advantages for heirs through a step-up in basis, potentially resulting in significant tax-free gains [4] - Charitable gifting of appreciated stocks is recommended instead of selling them, as it avoids capital gains tax and supports charitable causes [5] Group 2: Life Insurance Considerations - Selling life insurance policies may seem appealing, but it can deprive heirs of financial benefits intended for them, as the buyer receives the payout upon the seller's death [6] - Retaining life insurance is advised to ensure that heirs receive the full benefits, which can also affect eligibility for need-based programs like Medicaid [7]