Have you spent your whole live reluctantly managing your million dollar portfolio? Is it time to simplify and improve performance?
Tax-efficiency and a clear strategy can help. Tax-efficient investing involves structuring your investment portfolio in a way that minimizes the taxes you pay on investment returns. Here are some specific things that are done, sometimes all at once:
Invest in tax-advantaged accounts like 401ks, IRAs, or Roth IRAs. These can help diversify your current and future tax liability.
Consider asset location within certain account types. It is more than just buying investments. It is about putting them in the right tax allocation.
Use tax-efficient investments. Some investments can reduce unexpected taxation from distributions or create tax-free distributions.
Avoid frequent trading. This can create unnecessary tax ramifications and can sometimes reduce long-term performance.
Harvest losses to reduce future taxes on gains or reduce current year income.
Investment Management Process
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