Got a taxable brokerage account… or thinking about opening one? Then this episode’s for you. We’re joined by Sim Terwilliger, CFP®, CSLP®, to explore what these accounts are, how they work, and why they can be a smart tool for building long-term wealth. Learn how they compare to IRAs and 401(k)s and when a taxable brokerage account might make the most sense, whether you’re saving for early retirement, preparing for a potential student loan tax bomb, or setting aside money for your kid’s future education. You’ll also learn how to make the most of your account by using strategies like tax-loss harvesting, asset location, and automation to help minimize taxes and grow your investments more efficiently.
Key moments:
(05:36) Ways people put taxable brokerage accounts to good use
(09:37) How to donate appreciated stock and use bunching to increase your deduction
(15:00) Avoid these common pitfalls when managing investments solo
(16:58) Tax-loss harvesting and tax-gain harvesting explained — how timing can help reduce your tax bill
(26:15) Long-term vs short-term goals: how risk tolerance shifts based on when you’ll need the money
Links mentioned in this episode:
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