Topics · Axenro

Tax in investing How much of my return does tax take, and what is worth doing about it? Eight tax levers ranked by what they are worth. The four worth the most are free; the one sold hardest is worth the least after year five. What tax takes, and which levers give it back. Start here What a dollar of gain keeps after taxEight tax levers, ranked by what they are worth 9 short reads · 35 min Account placement Which of my accounts should hold which piece of the portfolio? Which account holds each piece of the mix: taxable, traditional IRA or 401(k), Roth, HSA. Sorted by turnover, not asset class. The mix itself is chosen under Choose. Start here The rollover that never got investedFour accounts, three tax treatmentsTurnover decides location, not asset class 6 short reads · 16 min Funds, wrappers and fees Which fund wrapper keeps the most after tax, and who keeps the fees? Why ETFs pay less tax than mutual funds, what direct indexing is, and who keeps the basis points. Start here Why ETFs pay less tax than mutual fundsDirect indexing, in one pageSame harvesting, 9 basis points or 115 8 short reads · 28 min Income and option ETFs Are the 'tax-efficient income' ETFs actually tax-efficient? Covered-call and option-income funds read through the tax return: what the label says, what the filing says, and the alternative. Start here Income ETFs are income products, not tax productsReturn of capital comes out of your own cost basisWhere cash from stocks costs least: 14 cents, 35, or 52 6 short reads · 21 min Asset allocation Which book of stocks, Treasuries and gold fits the purpose of the money, and how does the house change the count? Three books of stocks, Treasuries and gold, one per purpose of the money, with the house counted at a fifth of its value. Which account holds each piece is Account placement, under Implement. Start here The house is stocks, at a fifth of its valueThe stock-bond mix alone swings twenty-year returns by up to three points a year60/40 is the floor, and three books clear it from both starts 7 short reads · 34 min Alpha overlay Which equity approach, and does the evidence support paying for it over the index? Cap-weighted index, value and growth tilts, sector funds: which approach inside the equity sleeve, and why a blend beats a bet. Start here A value tilt has earned 0.5 points a year since 1985, and none of it since 2006 1 short reads · 5 min Diversifiers What else, beyond stocks, bonds and gold, actually diversifies the portfolio? What else, beyond stocks, bonds and gold, actually earns a place: trend following, bitcoin, commodities, TIPS, carry, and covered calls. Start here Trend following made money in all five of the worst US equity years since 1985 1 short reads · 4 min The household What does the whole household look like after tax, and what needs attention? One synthetic household, six accounts, a 20-year horizon: what its dashboard tracks month by month, and what the reads below walk through. Start here Asset location is backwardsKnowing when nothing needs to change 2 short reads · 9 min