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I'm going to disagree with BookmFool in this instance. The money is going to be taken out, the question is when. If now, Selphiras gets hit with the tail end load and short term gains taxes. If later, she gets hit with the tail end load and long term gains taxes.

If the gain is $1000, we're talking about the difference between 28% tax and 20% tax, or $80. The more important question is whether she wants to accept the risk of the market going down and the opportunity of it going up. Or, should she in effect pay the $80 to cash out now?

What I disagree with is the notion that the market should be avoided on principle, if there is money you will need in a few years.

I'm a pretty conservative individual with money, but in this case I personally would be inclined to figure the whole account is destined for the wedding. The likelihood of the market going down 25 or 30% is pretty small. The likelihood of worse than that is smaller. So, I think I'd let it ride. But, I'm not the one getting married.
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