Welcome back to the Know Your Numbers REI podcast! In this episode, host Chris McCormack dives into the second costly mistake people make regarding their taxes: treating a brokerage account like a retirement plan.
Join us as we explore the implications of investing in brokerage and cryptocurrency accounts without considering the tax consequences. Chris shares personal experiences and insights from clients to highlight the importance of understanding how taxes can impact your investment returns.
Learn about more tax-friendly alternatives, such as Roth IRAs and cash value life insurance, that can help you maximize your savings and minimize your tax burden. Discover how proper planning can lead to greater peace of mind and financial security in retirement.
If you find this episode valuable, please share it with friends and leave us a five-star rating and review! Don't forget to follow our Spotify and Apple podcast channel for more weekly content.
Stay tuned for next week's episode, where we'll continue our discussion on the seven costly tax mistakes, focusing on real estate-specific strategies.
God bless you and keep moving forward!
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The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.