Once I have successfully rolled over all my Traditional IRA assets in Step 2 (which will take more than a decade), I will have also reset my tax
basis in my taxable brokerage account and eventually used up those assets to cover my living expenses.
Not exact matches
It's important to keep
in mind that a
brokerage account is a
taxable account, so unlike tax - deferred retirement
account like a 401 (k) or IRA, you'll need to square up with the IRS every year
based on your gains, losses, and proceeds from dividends or interest.
Based on reading your site it looks like your were making six figures every year, at which point you probably maxed out 401 K plans, and then had an amount equivalent to 2 — 3 times the 401K contribution left over to fund investments
in a
taxable brokerage account.
As a quick refresher, I was looking for some advice on whether I should 1) switch my 529 plan from Utah to NY
based on about 8 bps differential
in the total fee structure on my investment selections and 2) whether I should ultimately hold less
in my 529 plan
in favor of greater flexibility
in holding some funds to be used for college
in my
taxable brokerage account.