Hey Theo, I feel for you and I was getting similar heat from the wife and daughter. I will share a little story that happened to me last week!
ALL IMO and not advice. Please seek you own advice. If the tool helps you then that's on you
The Heat Why are you (and your son) looking at old Holden Panelvans when the house needs a renovation and the home loan paid off?
The Plan Even though I trade my quaddie myself I spoke to my Broker about a plan. i.e. we have multiple spec stocks so which to sell? How many? and when? I then built simple spreadsheet to demonstrate what selling some shares looked like on paper... I called it the Lost Opportunity Report - very important its on paper Upon review there was only 2 stocks we could sell for which I could achieve the goals they had One of those was ADN and it meant selling 1,000,000 shares to raise circa $300k
I then built a simple report in spreadsheet form to present to the family It showed what spec stocks we hold and what gains made in percentage terms and dollar terms We use Sharesight, so this report is a snap and literally took minutes to produce. I then added what I thought the SP would be in 12 months and in 2 years for each stock Then a little manual calculation and comment about what the cost of selling now might mean versus future value (I could have calculated this but was lazy)
The Meeting Hey family, we can achieve your goals of renovation and pay off home loan and here's how Lets sell 1,000,000 ADN and I table the spreadsheet Everyone of them said hold onto the shares! Why? Well they saw the cost to the family by selling now...
Since that meeting last week ADN went from 31c to 41.5c! ...and I am walking around the house muttering "Who's stupid idea was it to sell ADN?"
You may have a different result to me. But I find putting things in black and white makes the data real for everyone and produces the best result. i.e. often words are not enough and it needs to be seen as well.
Here's what the spreadsheet looks like with many numbers changed or removed to not cross promote We have many more ADNs but @EddyG will fine me if I share that figure
(20min delay)