10 MILLION DOLLARS

[chocomorsel]

How can you tell that? I am reading about 10-40 million dollar lawsuits almost weekly these days against physicians.

This is the most recent one: Torture death of 8-year-old Gizzell Ford leads to $48M jury award over doctor missteps

Unless you directly work for the county who assumes all liability, what happens when you get a 48M judgement against you? The plantiff lawyers just walk away at 1M insurance?

Also, Texas offers unlimited Homestead but who wants to put all their assets into a home?

Leave the country. There are over 200 others to chose from.
Next question?

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[Norepi]

1. $18K per year in a 401K
2. Employer contribution of $5-$10K per year
3. Back door Roth IRA $5500
4. After Tax Savings in a Taxable account like TD Ameritrade, Schwab, Fidelity, E-trade, etc.: $25,000

Total: $54K per year.

I used 30 years of savings at $54K per year with an average return of 5.5%: $4 million

Blade - I am a newbie when it comes to investing (PGY-1 year starts this June). As someone who anticipates putting in excess of $40k + into my taxable account, and thus having my taxable holdings constitute a large proportion of my retirement savings, what type of fund portfolio do you and the other gurus here recommend to reduce my tax burden as I approach retirement? I want to be lazy, and do not want to be managing my holdings that actively - including tax loss harvesting etc. However, I am willing to pay for a service or individual to do so on my behalf if it will save me money.

Does this 3 fund portfolio still work for a Vanguard client in a taxable brokerage account:
1. VTSAX (total market stock admiral shares)
2. VTIAX (total international stock admiral shares)
3. Some sort of Vanguard tax-advantaged bond index fund, perhaps VTEAX - their tax exempt bond index

I would then manually rebalance, I suppose in a way that roughly mimics its target retirement 2060 fund.

Anyone have any advice regarding taxable account holdings and retirement?

 

[Hippocrates II]

Blade - I am a newbie when it comes to investing (PGY-1 year starts this June). As someone who anticipates putting in excess of $40k + into my taxable account, and thus having my taxable holdings constitute a large proportion of my retirement savings, what type of fund portfolio do you and the other gurus here recommend to reduce my tax burden as I approach retirement? I want to be lazy, and do not want to be managing my holdings that actively - including tax loss harvesting etc. However, I am willing to pay for a service or individual to do so on my behalf if it will save me money.

Does this 3 fund portfolio still work for a Vanguard client in a taxable brokerage account:
1. VTSAX (total market stock admiral shares)
2. VTIAX (total international stock admiral shares)
3. Some sort of Vanguard tax-advantaged bond index fund, perhaps VTEAX - their tax exempt bond index

I would then manually rebalance, I suppose in a way that roughly mimics its target retirement 2060 fund.

Anyone have any advice regarding taxable account holdings and retirement?

Load up your foreign stock funds, tax-efficient US stock funds, and other tax-efficient funds ("tax-exempt" or "tax-efficient" assets) into the taxable. Put the inefficient bonds, traded assets, etc. into the tax-sheltered accounts. The 3-fund portfolio is solid if you want minimal hands-on investing, but I personally "tilt" it with some small/mid-cap funds since vanguard's total stock market is largely an SP500 fund with a little extra.

 

[Impromptu]

Blade - I am a newbie when it comes to investing (PGY-1 year starts this June). As someone who anticipates putting in excess of $40k + into my taxable account, and thus having my taxable holdings constitute a large proportion of my retirement savings, what type of fund portfolio do you and the other gurus here recommend to reduce my tax burden as I approach retirement? I want to be lazy, and do not want to be managing my holdings that actively - including tax loss harvesting etc. However, I am willing to pay for a service or individual to do so on my behalf if it will save me money.

Does this 3 fund portfolio still work for a Vanguard client in a taxable brokerage account:
1. VTSAX (total market stock admiral shares)
2. VTIAX (total international stock admiral shares)
3. Some sort of Vanguard tax-advantaged bond index fund, perhaps VTEAX - their tax exempt bond index

I would then manually rebalance, I suppose in a way that roughly mimics its target retirement 2060 fund.

Anyone have any advice regarding taxable account holdings and retirement?

Do not pay anyone else to manage your money. It will not save you money. Just remember that in a downturn, you have not lost any money unless you sell, so do not sell. It will come back up. If it doesn't, the end of the world is occurring, so who cares what happened to your portfolio?

Next you need to decide what type of investment accounts to invest in. If your residency program has any matching offerings, invest in those to get the match. Then invest in a roth IRA, as you are in a lower tax bracket and will pay next to nothing in taxes on this investment. Then you can invest in a taxable account.

Then pick your asset allocation. A 3 fund portfolio of Total US Stock, Total World, and Total US Bond will serve you well. Pick the ETFs or the mutual fund, it doesn't really matter. You will beat 95% of investors and 99% of financial advisors over just a decade. Pick an asset allocation, such as 40/40/20, or 50/20/30, or whatever you want. It doesn't so much matter what you pick as much as it matters that you stick with what you pick. You cannot know exactly which allocation would get you the most money until it has occurred, but you can know reasonably well that you will succeed if you just stick to it. You can put that same allocation within each of your accounts, or you can split it up so that your total across all your accounts is adds up. Since all of my accounts have low expense ratios, I simply do the same split within each account. Thus if I die early, my wife will know exactly how to manage her funds.

Finally, hope that once you start making attending money that there is a big bear market, then invest like crazy during that period. Bear markets (2008) are when the real long term money is made. Do not sell when the market "crashes", as that is the opposite of buy low, sell high.

 

[sevoflurane]

Do not pay anyone else to manage your money. It will not save you money. Just remember that in a downturn, you have not lost any money unless you sell, so do not sell. It will come back up. If it doesn't, the end of the world is occurring, so who cares what happened to your portfolio?

Next you need to decide what type of investment accounts to invest in. If your residency program has any matching offerings, invest in those to get the match. Then invest in a roth IRA, as you are in a lower tax bracket and will pay next to nothing in taxes on this investment. Then you can invest in a taxable account.

Then pick your asset allocation. A 3 fund portfolio of Total US Stock, Total World, and Total US Bond will serve you well. Pick the ETFs or the mutual fund, it doesn't really matter. You will beat 95% of investors and 99% of financial advisors over just a decade. Pick an asset allocation, such as 40/40/20, or 50/20/30, or whatever you want. It doesn't so much matter what you pick as much as it matters that you stick with what you pick. You cannot know exactly which allocation would get you the most money until it has occurred, but you can know reasonably well that you will succeed if you just stick to it. You can put that same allocation within each of your accounts, or you can split it up so that your total across all your accounts is adds up. Since all of my accounts have low expense ratios, I simply do the same split within each account. Thus if I die early, my wife will know exactly how to manage her funds.

Finally, hope that once you start making attending money that there is a big bear market, then invest like crazy during that period. Bear markets (2008) are when the real long term money is made. Do not sell when the market "crashes", as that is the opposite of buy low, sell high.

Good advice.