Investing In Your Taxable Account #doctor #physicianfinance #financialplanning #investing

Don't make the mistake that some people do that think the only way to save for retirement is in some sort of special account. So they max out their backdoor roth and their 403 and their 457 and their HSA and they go, well, I can't do anything now. I'll have to buy whole life insurance or I'll have to go buy an annuity. No, you don't. You can always invest in taxable. There is no limit on how much money you can put into a taxable brokerage account. And a taxable brokerage account is great. There's lots of cool things you can do with it. You can tax, loss, harvest. You benefit from the qualified dividend, dividend, lower tax rate. You benefit from long term capital gains rates. It's flexible. You can spend it on anything you want. You can pull it out anytime you want. There's lots of cool things you can do with a taxable account. You should not be afraid of a taxable account. The vast majority of our money is now invested in a taxable account. It's okay. Yes, you should max out your Roth IRA and your 403 first. But after you do that, if you want to save more money, put it in a taxable account. It's fine.