Taxes and investments
Three essentials for successful investing: Invest in things you understand with low fees and minimal taxes.
Taxes can take a massive chunk of your investments' future earnings, so minimize their impact as much as possible. With long-term investments, first max out your 401k, Roth IRA, and SEP-IRA, since they offer a tax benefit either when you deposit or withdraw the money.
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Long-Term (10+ years) Investing Strategy
After you maxed out your 401k, Roth IRA, and SEP-IRA, invest the rest in the following:
- 70% in index funds. They are low-tax since minimal trading is done within them.
- 20% in individual equities that you plan to hold for the long haul like A...
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