If all of your money is in a Traditional 401k, every dime you take out when you retire will be taxable. We don’t know where tax rates will be 10 or 20 years from now, so having all your money in a tax-deferred account doesn’t give you a lot of control. It is crucial to not just have investment diversification, but also account diversification. Account diversification gives you more flexibility and tax control.

To schedule a Discovery Call go to: 

⁠https://www.momentouswealthadvisors.com/contact⁠

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Brian D Muller(AAMS©), Founder, Wealth Advisor

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The Wealth Decisions Podcast is provided solely for general information purposes and should not be construed as accounting, legal, tax, or any other professional advice. Visitors are advised not to act upon the information or content found here without first seeking appropriate guidance from a qualified accountant, financial planner, lawyer, or other relevant professional.

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Takeaways:

• The pain of discipline is significantly lighter than the burdensome weight of regret, as articulated by Jim Rohn.
• Diversification within investment accounts is paramount for achieving a tax-efficient income during retirement.
• Aiming to save 15 to 20 percent of one’s income is crucial for those desiring early retirement.
• Investors should utilize dollar cost averaging to capitalize on market volatility effectively over time.
• It is advisable to cut losses short when investments decline in value, adhering to a 15 percent threshold.
• Investing in a taxable account necessitates a long-term perspective to navigate market fluctuations successfully.