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(former)FormerSanDiegan
ParticipantExcellent points carlsbadworker.
Wealth accumulation is not linear with time (age). If one is saving and growing a nest egg, it should follow a growth curve.
I think that would be too complicated for the audience targets by the millionaire next door, so he uses an approximation that probably makes sense for people in the ~ 40-50 age range.Participant[quote=Rockemsock]
Is it just me or is our tax system a bit complicated? Flat tax anyone?![/quote]Yes, taxes are way too complicated, it’s not just you.
Participant[quote=Rockemsock]
Is it just me or is our tax system a bit complicated? Flat tax anyone?![/quote]Yes, taxes are way too complicated, it’s not just you.
Participant[quote=Rockemsock]
Is it just me or is our tax system a bit complicated? Flat tax anyone?![/quote]Yes, taxes are way too complicated, it’s not just you.
Participant[quote=Rockemsock]
Is it just me or is our tax system a bit complicated? Flat tax anyone?![/quote]Yes, taxes are way too complicated, it’s not just you.
Participant[quote=Rockemsock]
Is it just me or is our tax system a bit complicated? Flat tax anyone?![/quote]Yes, taxes are way too complicated, it’s not just you.
Participantucodegen – good point on tax treatment of Mutual funds. Depends on the trades the fund makes and ultimately the type and timing of distributions.
These distributions happen typically in December.
Something to definitely be aware of, since you can pay taxes on a capital gain distribution that the fund makes even if you don’t have any gain personally. It’s a non-event for tax-deferred accounts, but in taxable accounts it sucks.I generally prefer ETFs, so that I can control the tax consequences more directly.
Participantucodegen – good point on tax treatment of Mutual funds. Depends on the trades the fund makes and ultimately the type and timing of distributions.
These distributions happen typically in December.
Something to definitely be aware of, since you can pay taxes on a capital gain distribution that the fund makes even if you don’t have any gain personally. It’s a non-event for tax-deferred accounts, but in taxable accounts it sucks.I generally prefer ETFs, so that I can control the tax consequences more directly.
Participantucodegen – good point on tax treatment of Mutual funds. Depends on the trades the fund makes and ultimately the type and timing of distributions.
These distributions happen typically in December.
Something to definitely be aware of, since you can pay taxes on a capital gain distribution that the fund makes even if you don’t have any gain personally. It’s a non-event for tax-deferred accounts, but in taxable accounts it sucks.I generally prefer ETFs, so that I can control the tax consequences more directly.
Participantucodegen – good point on tax treatment of Mutual funds. Depends on the trades the fund makes and ultimately the type and timing of distributions.
These distributions happen typically in December.
Something to definitely be aware of, since you can pay taxes on a capital gain distribution that the fund makes even if you don’t have any gain personally. It’s a non-event for tax-deferred accounts, but in taxable accounts it sucks.I generally prefer ETFs, so that I can control the tax consequences more directly.
Participantucodegen – good point on tax treatment of Mutual funds. Depends on the trades the fund makes and ultimately the type and timing of distributions.
These distributions happen typically in December.
Something to definitely be aware of, since you can pay taxes on a capital gain distribution that the fund makes even if you don’t have any gain personally. It’s a non-event for tax-deferred accounts, but in taxable accounts it sucks.I generally prefer ETFs, so that I can control the tax consequences more directly.
ParticipantIs this assumption correct?
Generally, No.
You will have again or a loss each time you sell a position. You will pay taxes on the net gain each year (long-term and short-term gains are treated differently). This is regardless of whether you manage the funds or not. I assume that this is a money manager who is buying and selling stocks, etc.However, if the money manager takes your funds and puts them in a pool, e.g. a mutual fund, then you are taxed each year based on the net gains/losses incurred by that fund in each year.
If so, is there a way to manage your own money/investments without paying taxes until you cash out or something similar?
Yes, well sort of … Build a portfolio based on index ETFs and hold without selling. You will have dividends, but no captial gains until you sell.
disclaimer : I am not a tax lawyer or a financial advisor. The advice above is based on personal experience.
ParticipantIs this assumption correct?
Generally, No.
You will have again or a loss each time you sell a position. You will pay taxes on the net gain each year (long-term and short-term gains are treated differently). This is regardless of whether you manage the funds or not. I assume that this is a money manager who is buying and selling stocks, etc.However, if the money manager takes your funds and puts them in a pool, e.g. a mutual fund, then you are taxed each year based on the net gains/losses incurred by that fund in each year.
If so, is there a way to manage your own money/investments without paying taxes until you cash out or something similar?
Yes, well sort of … Build a portfolio based on index ETFs and hold without selling. You will have dividends, but no captial gains until you sell.
disclaimer : I am not a tax lawyer or a financial advisor. The advice above is based on personal experience.
ParticipantIs this assumption correct?
Generally, No.
You will have again or a loss each time you sell a position. You will pay taxes on the net gain each year (long-term and short-term gains are treated differently). This is regardless of whether you manage the funds or not. I assume that this is a money manager who is buying and selling stocks, etc.However, if the money manager takes your funds and puts them in a pool, e.g. a mutual fund, then you are taxed each year based on the net gains/losses incurred by that fund in each year.
If so, is there a way to manage your own money/investments without paying taxes until you cash out or something similar?
Yes, well sort of … Build a portfolio based on index ETFs and hold without selling. You will have dividends, but no captial gains until you sell.
disclaimer : I am not a tax lawyer or a financial advisor. The advice above is based on personal experience.
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