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In addition to the spousal relationship at the end of next year, there is also the cost of MBA schooling. MBA folks here at my school are not known for being frugal. Party expenses add up, so watch those dollars and your goal. There needs to be balance, of course, and by thinking ahead you can achieve that balance. Getting an MBA is a time to make business relationships that will tremendously help in later years, so a certain "social budget" is the norm for an MBA student. Kids and schools is a tough combination, but you can also get suckered into the MBA life and just work super-hard after graduation. These things need to be discussed with your spouse-to-be and we wish you the best.

Since you are concerned with capital gains taxes, it is useful to consider the full range of options:

Roth IRA -- fit for your aggressive style
tax-deferred accounts -- limited choices
taxable equities -- currently, you have lower-turnover strategies here

taxable bonds -- less volatility, but it does not sound like that was your concern
taxable corporate bonds/bond mutual funds -- same
tax-free bonds -- something to think about, depending on the after-tax returns you are after

housing development (as in Boston Capital) **start your own, legitimate business -- lots of tax savings, but lots of differenent kinds of headaches [and joys]

In the end, though, I don't mind paying taxes. The government has helped me in the past, and I am willing to help the government. I tend to maximize my profits first, and then pay the tax. The tax, after all, is never 100% of your profit, so you always get to keep something.

One last thought on the "ring fund". I know it is not logical to treat money in different bins as different entities, but I have a CD for a "ring fund". It prevents me from touching it even though the market is good. It has its separate account even, to create a clearly defined entity. I don't know if that will help you at all, but for my personality, it helps.

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