I have a few brokerage Accounts with earning Qualified Dividends each year and a Roth IRA where i max out my contribution every year(for the past few years). I do not have a 401k yet or plan to have one. So no RMDs for me! Wouldn't my plan also be tax efferent, compared to having an IRA/401k and having to worry about RMDs later in life?
You would still want to make sure you are taking advantage of other tax planning strategies. Dividends, even qualified dividends, are still taxed at a high rate. The good news is that you aren't trying to build wealth inside a vehicle like a 401k or traditional IRA.
Great info Sharon!
Getting some helpful tips from videos.
Thanks for watching! 😁
Wow, very helpful.
Many thanks
Thank you so much!
@@sharonwinsmith keep it up
Great video! Will this be a problem with a ROTH 401K?
Not an issue with a Roth because distributions from the Roth are tax free.
Thank you!
Thank you for watching!
I have a few brokerage Accounts with earning Qualified Dividends each year and a Roth IRA where i max out my contribution every year(for the past few years).
I do not have a 401k yet or plan to have one. So no RMDs for me!
Wouldn't my plan also be tax efferent, compared to having an IRA/401k and having to worry about RMDs later in life?
You would still want to make sure you are taking advantage of other tax planning strategies. Dividends, even qualified dividends, are still taxed at a high rate. The good news is that you aren't trying to build wealth inside a vehicle like a 401k or traditional IRA.