Thanks Mark. Yes, also in the U.S. “asset location” has important tax implications, but I think we were meaning different things by the term. It seems you meant how much to hold in taxable versus tax-advantaged accounts. I meant in which kind of account to hold certain assets (e.g., which kind of account to hold bonds in). In any case, I wasn’t questioning its importance, but rather whether advice on this specific area was something worth paying an ongoing management fee for. Don’t get me wrong, I think you have managed a pretty good set up with Suzie’s adviser.
Tax planning yes, but asset location? That doesn’t seem worth the money to me. Yes it’s important, but it’s a fairly simple decision, certainly compared to tax planning. Agree on the assessment of the bond move too.
If it’s offline, I assume it automatically fills credentials to sites visited on the Mac but not across other Apple devices? If that’s the case, then I guess one just has to remember them when using iPhone for example?
Soon to face a similar choice between bonds in Roth or taxable to maintain AA, and in fact already have more cash in taxable than I’d normally like. Cash isn’t bonds obviously, but same problem of throwing off interest which is taxed as ordinary income.
Good ideas. You could even drop the last point “Keep the remainder in a suitable mix of fixed interest and globally diversified index funds.” If the idea is to make it simple, just stay in the target date fund.
That is indeed a very salient article. I wonder about a sequel given the stock price is now so much higher than when you considered it before. As you mention preserving the NUA opportunity, I gather you’re not inclined to do it now.
This is a good list, and we follow all the advice here. Our taxable brokerage accounts hold a significant chunk of our investments. I’ve sometimes thought that perhaps I emphasized these perhaps more than I should have. I did so because of the flexibility mentioned. Now they throw off a fair amount of dividend income, which is okay because we spend it. They also have a lot of embedded capital gains. I guess this is also okay as when we spend from principal, the capital gains will be taxed at a lower rate than distributions from an IRA or 401(k). The time to do this, and in a large chunk, may be coming soon, and I’ll appreciate it more. The taxable accounts will also be easier to inherit from a tax standpoint, though this doesn’t matter much to us past each other.
Comments
Is there anyone besides me who’d like to see this Covid tangent in the comments go away?
Post: Staying Rational
Link to comment from April 20, 2026
Thanks Mark. Yes, also in the U.S. “asset location” has important tax implications, but I think we were meaning different things by the term. It seems you meant how much to hold in taxable versus tax-advantaged accounts. I meant in which kind of account to hold certain assets (e.g., which kind of account to hold bonds in). In any case, I wasn’t questioning its importance, but rather whether advice on this specific area was something worth paying an ongoing management fee for. Don’t get me wrong, I think you have managed a pretty good set up with Suzie’s adviser.
Post: One Good Call?
Link to comment from April 15, 2026
Allan Roth isn’t taking new clients
Post: Financial Planning
Link to comment from April 14, 2026
Tax planning yes, but asset location? That doesn’t seem worth the money to me. Yes it’s important, but it’s a fairly simple decision, certainly compared to tax planning. Agree on the assessment of the bond move too.
Post: One Good Call?
Link to comment from April 14, 2026
I’m not sure that’s a good thing. I can see how it could enable people to rationalize losing.
Post: Taxes Season 3
Link to comment from April 12, 2026
If it’s offline, I assume it automatically fills credentials to sites visited on the Mac but not across other Apple devices? If that’s the case, then I guess one just has to remember them when using iPhone for example?
Post: Simplify Everything
Link to comment from April 6, 2026
Soon to face a similar choice between bonds in Roth or taxable to maintain AA, and in fact already have more cash in taxable than I’d normally like. Cash isn’t bonds obviously, but same problem of throwing off interest which is taxed as ordinary income.
Post: Tax Efficiency
Link to comment from April 6, 2026
Good ideas. You could even drop the last point “Keep the remainder in a suitable mix of fixed interest and globally diversified index funds.” If the idea is to make it simple, just stay in the target date fund.
Post: Perfection, enemy of good
Link to comment from April 6, 2026
That is indeed a very salient article. I wonder about a sequel given the stock price is now so much higher than when you considered it before. As you mention preserving the NUA opportunity, I gather you’re not inclined to do it now.
Post: Blood Money
Link to comment from April 6, 2026
This is a good list, and we follow all the advice here. Our taxable brokerage accounts hold a significant chunk of our investments. I’ve sometimes thought that perhaps I emphasized these perhaps more than I should have. I did so because of the flexibility mentioned. Now they throw off a fair amount of dividend income, which is okay because we spend it. They also have a lot of embedded capital gains. I guess this is also okay as when we spend from principal, the capital gains will be taxed at a lower rate than distributions from an IRA or 401(k). The time to do this, and in a large chunk, may be coming soon, and I’ll appreciate it more. The taxable accounts will also be easier to inherit from a tax standpoint, though this doesn’t matter much to us past each other.
Post: Tax Efficiency
Link to comment from April 4, 2026