Author Topic: Best Way to Get Tax Savings on Non-Retirement account  (Read 2192 times)

Miss. Takes

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Best Way to Get Tax Savings on Non-Retirement account
« on: March 25, 2014, 11:00:14 PM »
I will be starting a job soon and they do not offer a 401k until I have been working there for 3 years (not talking about vesting, I can't open an account until I have literally been there 3 years).

I will already by maxing out my Roth IRA, but will have more money to save.

Any suggestions on the best way to save for retirement without a 401? Any alternatives to taxable accounts you can think of? Should i be using all this money I'm saving and just pay for a house? Any other tax-sheltered investments I am not thinking of?

If my only option is a taxable account, how do I minimize the taxes on that? What is tax efficient investing all about? How do I minimize my tax burden?

Thank so much.

jpdcpajd

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Re: Best Way to Get Tax Savings on Non-Retirement account
« Reply #1 on: March 26, 2014, 01:37:32 AM »
Buy and Hold index funds like VTI get long term Gain treatment and pay 15-20% well down the road

ZiziPB

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Re: Best Way to Get Tax Savings on Non-Retirement account
« Reply #2 on: March 26, 2014, 04:51:06 AM »
Does your company offer a HDHP with an HSA?  If so, you could max out that account and eventually use it as an investment vehicle.

DrTesla

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Re: Best Way to Get Tax Savings on Non-Retirement account
« Reply #3 on: March 26, 2014, 05:55:07 AM »
Is there a way to see the 401k fund choices from the paper work of a Co-worker? See if there is even an option for a very low expense ratio fee. Employers get to choose what they want to offer their employees from the 401k provider service. Employees have no power for that.


sly

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Re: Best Way to Get Tax Savings on Non-Retirement account
« Reply #4 on: March 26, 2014, 09:14:31 AM »
definitely look into HSA. Otherwise in your taxable account try to invest in low income assets, growth stocks with low dividend for example.

Joel

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Re: Best Way to Get Tax Savings on Non-Retirement account
« Reply #5 on: March 28, 2014, 06:54:14 PM »
Depending on your marginal tax rate, you may want to contribute to an IRA instead of a Roth IRA.