“The long-term goal of investing is to multiply the eggs in our basket. Most people are very focused on producing more eggs … but pay little attention to the fox that perpetually robs the hen house. … That fox is taxation.”
Mitch Anthony and Scott West
Particularly in transitional circumstances such as divorce or widowhood, and even when your life is rolling right along, sensible tax planning is too often overlooked in the “excitement” of the seemingly bigger events. And yet it’s a step investors ignore at their financial peril.
- Social Security benefits
- 401(k) and/or pension plans
- Roth and Traditional IRAs
- Investment portfolio asset location
- Estate planning