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My issue is that I do not have access to so called "retirement" vehicles, except IRAs, which would only allow me to save a very small percentage of my gross income towards retirement. I am 54 and have 80% of my liquid investments in taxable accounts, while 20% is in so called retirement accounts from prior Profit Sharing Plans.
I now find, at my age, that too keep Sanford Bernstein "honest" in my taxable portfolio, I remove all money owed the government incurred in the taxable account through capital gains, dividends and interest. Likewise, so called extra money I am using to pay down "debt" in the form of mortgages in my first and second home.
What is your recommendation for someone with a relatively high liquid net worth with access only to an IRA as a means to investing in a non-taxable account.
I now find, at my age, that too keep Sanford Bernstein "honest" in my taxable portfolio, I remove all money owed the government incurred in the taxable account through capital gains, dividends and interest. Likewise, so called extra money I am using to pay down "debt" in the form of mortgages in my first and second home.
What is your recommendation for someone with a relatively high liquid net worth with access only to an IRA as a means to investing in a non-taxable account.