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Ask Paula: Is Your DIY Investing Strategy Holding You Back?
Afford Anything
Simplicity Over Complexity in Investing
For new investors, it's essential to keep investment strategies simple by utilizing the total stock market rather than complex offerings from robo-advisors. Once a portfolio grows to the point where its fluctuations in value exceed new contributions, it's advisable to adopt a more analytical approach, such as calculating the Efficient Frontier for optimal diversification. Additionally, tax-loss harvesting is ineffective within IRAs but can offer substantial tax benefits for investments held outside of IRAs, making it a valuable tool for managing taxable accounts.
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