My wife inherited a variety of actively managed fidelity mutual funds and a few individual stocks about 20 years ago from a grandparent. I don't have the exact numbers in front of me, but let's say it's grown from 600 thousand to one point twe million. Would you advise her to simply convert these managed mutual funds and stocks to index funds according to our written financial plan? How'd you even cut ties with the money manager anyway? Is there any fine print fees, legal hassels or land mines to be aware of?
This episode we are answering questions about investment taxes. There are several things that you can do to reduce your investment taxes including the use of retirement accounts and buying and holding tax efficient investments. We cover six ways to help with reducing those taxes. We talk about when (or if) you should rebalance your portfolio and what to do if you have to recharacterize from a Roth IRA to a traditional. We discuss if it is ever a good idea to do tax gain harvesting and go over what opportunity zone investing is and what type of investors are participating in it. Learn more on how investments are taxed: https://www.whitecoatinvestor.com/taxes-on-investments/
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