Ask Paula: Is Your DIY Investing Strategy Holding You Back?
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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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