The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between by William J. Bernstein

Author:William J. Bernstein [Bernstein, William J.]
Language: eng
Format: mobi
ISBN: 9780470558096
Publisher: Wiley
Published: 2009-10-23T14:00:00+00:00

Almost as important as what asset classes you choose are the nuts and bolts of your portfolio locations. For example, the lion’s share of your savings may be located in sheltered retirement accounts, such as a 401(k) or an IRA. In this case, you can own almost any asset class, without regard to the tax consequences.

Alternatively, your portfolio might consist entirely of taxable accounts, with little or no sheltered retirement assets. In this situation, it would be inadvisable to own high-yield bonds, since all of their long-term return comes from dividends taxed at the ordinary income rate. Conversely, you might also want to cant an all-taxable portfolio toward domestic and foreign large- market equity funds, which are highly tax-efficient, and the bond portion toward municipal securities.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.