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Max out the Roth IRA first since there’s a limit
Rising Star
You may be skipping at least a step here. The first question is usually whether to do a brokerage or Ira. And the standard answer to that is whether you plan to use your money before or after retirement.
Then comes the question of whether to do a traditional or Roth IRA. The standard answer to that largely depends on your income and your guesses on what your tax situation will look like (and some other fringe items).
There’s another approach, depending on how clever you want to get where you can access your Ira funds early through a laddering process. https://www.moneyunder30.com/roth-ira-conversion-ladder. In this case you might choose to do Ira approach over a brokerage.
I’m interpreting your question as what financial assets to buy in a taxable account vs a tax deferred account, such as an IRA account. If it’s better for tax and other purposes to have a lower adjusted gross income, then you would buy stocks that do not pay dividends but have great potential for stock price increase in the taxable account. The tax deferred account would be the place to buy dividend paying stocks with a strong balance sheet so that the risk a loss in stock is minimized. Many mutual funds are not good choices in a taxable account since you have no control over the income they dump in your tax return. It’s not an issue for the tax deferred account.