Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (8) | Ignore Thread Prev | Next
Author: steelpotato Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121252  
Subject: Best thing to do Tax-wise after 401k Date: 5/29/2008 2:57 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Hi Everybody,

I'm currently maxing out my 401k contribution as a Roth, and have some money left-over to invest. I'd like to know the best way/account to invest this money.

I know I could put it in a traditional IRA, but I'm hoping to retire before 60-whatever with some of this money, so I don't know that an IRA would be a good idea (unless the penalties would be less than the taxes)

Really, what I'm worried about is Capital Gains tax. If I take a bunch of money, and start investing it, I don't want to pay taxes on every transaction, do I? Is there some way I can put all the money in an account, and only pay taxes when I withdraw it? (Kind of like my own mutual fund). Then, I could make trades within the account without a problem.

Thanks
~sean
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (8) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Value Hounds

Mobileye's Growth too Hot?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement