William Lipp wrote,

<<A normal, taxable account would be the standard alternative after you have maximized the
tax-advantaged options. Taxes on long term capital gains are lower than taxes on ordinary
income, and you have control over whether you pay it in any given year because you control
when the stocks are sold. >>

I agree. One way to accomplish this is with a Tax-managed mutual fund like Vanguard's Tax-Managed Growth and Income Fund. This fund has low expenses and is managed so as to reduce or eliminate capital gains distributions.

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