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What’s your title in ACNH?
Additional Posts in Personal Investment Chatter
Thoughts on Jumia stock?
How to invest in commodities (e.g. wheat)?
Is stock market surging tomorrow?
If you have cash that you want to invest. Please consider Treasury Series I Savings Bond (Electronic). Interest is 7.12% right now. While it's not guaranteed that the 7.12% will remain until next year, it's still a good deal.
My SO and I just invested 20k (10k max per person even married).
https://www.treasurydirect.gov/indiv/products/prod_ibonds_glance.htm
Recommendations for a Roth IRA?
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Pro
Just so you know there is really no need to invest in VOO and VTI. 80% of VTI is simply VOO, the remaining 20% is the other 3000+ stocks that aren’t the largest 500 companies in America
Thanks 🙏🏼
Pro
Also can you elaborate more by what tax benefits you’re talking about of taking money out of your brokerage and putting it in your Roth?
No tax deduction for Roth IRA. The tax benefit is tax free growth as it’s money you’ve already paid taxes on.
Bowl Leader
If you have a mix of up lots and down lots you may want to just sell your losers and those close to break even to generate tax losses.
You don't get a tax deduction for contributing to Roth IRA but you'll get those losses on your 2020 return and what you contribute to your IRA will grow tax free.
Pro
Look into tax loss harvesting. The answer is yes it’s on top of the standard deduction but it needs to be executed right.