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SVTPerformance's Chain of Restaurants
Road Side Pub
Should I start an IRA (individual retirement account)
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<blockquote data-quote="97desertCobra" data-source="post: 16177013" data-attributes="member: 53488"><p>The mutual fund you are invested in, if it’s held in a taxable brokerage account, is still subject to capital gains tax as well as taxes on dividends. Wouldn’t it be awesome if your gains, dividends and distributions were not subject to taxes? That’s what a Roth IRA is for. If you can afford to put money into an IRA every year after contributing to a 401k you absolutely should. </p><p></p><p>Also on taxes, to be tax efficient your mutual funds should be held in an IRA, ETFs in a taxable account. </p><p></p><p>Im an investment advisor at large firm. I’ll keep their name out of this for reasons.</p></blockquote><p></p>
[QUOTE="97desertCobra, post: 16177013, member: 53488"] The mutual fund you are invested in, if it’s held in a taxable brokerage account, is still subject to capital gains tax as well as taxes on dividends. Wouldn’t it be awesome if your gains, dividends and distributions were not subject to taxes? That’s what a Roth IRA is for. If you can afford to put money into an IRA every year after contributing to a 401k you absolutely should. Also on taxes, to be tax efficient your mutual funds should be held in an IRA, ETFs in a taxable account. Im an investment advisor at large firm. I’ll keep their name out of this for reasons. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Should I start an IRA (individual retirement account)
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