One of the largest lifetime expenses that many Americans face is taxes. Since we all have to pay taxes on our income and we (ideally) earn an income or profit from our investments, we have to pay taxes on our investments as well. This is why it is important to consider the types of investment accounts you hold.
If you are interested in minimizing your lifetime tax bill then you will want to carefully examine which type of accounts your investments are in. Listen in to hear the tax structure of each type of investment account so that you can make an informed decision about where to invest your money.
You will want to hear this episode if you are interested in...
- Three ways investments can be taxed [1:22]
- The third type of investment account [4:20]
- Which account is right for you [6:30]
- Your homework [8:46]
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