<prompt> Human: After researching for a couple of months, I bit the bullet and invested in some Vanguard Admiral Shares VBIAX via a brokerage account. Im feeling pretty happy having taken the step! One thing I dont really have a solid understanding about whats the process for liquidating your Vanguard assets into money say, in your checkings account. Is there a lock-in before I can cash-in my investment? Assuming a 10,000 initial investment with an average return of 6 over 3 years with reinvesting dividends, can someone help me understand how much can I expect to take-home assuming CA tax if I were sell all my investments in Vanguard?Id be great if I can get some pointers on the math involved so that I can better understand this.  <response>: The process for liquidating is to sell those shares. Depending on your brokerage, you can tell them to deposit the sale proceeds into the same brokerage account, or transfer to your bank account.There is no lock-in for Vanguard mutual funds, but there is a lock-out: You cannot buy the same fund for 30 days after you sell. Assuming a 10,000 initial investment with an average return of 6 over 3 years with reinvesting dividends, can someone help me understand how much can I expect to take-home assuming CA tax if I were sell all my investments in Vanguard?Aside from possible commission fees, you will always get the initial 10k back if the total return is positive. 10k x 1.063 11910.16. The 1910.16 is approximately taxable: 60 of it is US stocks, so this part is taxed federally at LTCG rates on dividends and cap gains. CA taxes stocks the same way as ordinary. CA tax does not have the concept of LTCG 40 of it is US bonds, so this part is taxed federally at ordinary rates. CA also taxes bonds the same way as ordinary.Since you didnt mention your income, I cant give you the actual s. 