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Hi,

I had a conversation with a coworker who states he only invest in a taxable account because he wants his money to be accessible. I told him he should put it in a 401k and roth for the tax purposes and that he's lost money throughout the years.

SO, the guy has a 25-year investing portfolio with EDJ, was poor and living on the streets in his early 20's, went to school and came out with a decent job. I assume he is making 70-80k now based on his experience.

I was shocked when he told me that he received a check for $70k this past year on an account north of $3M. He told me that he puts money in, reinvest profits/dividends, and let his advisor handle his money.

Who am I to tell him that he's made a mistake?! I asked what he holds and he says he doesn't quite know but a lot of companies with growth and real estate stocks. I'm sure he pays quite a bit on taxes and fees but the guy made out pretty well for himself considering his financial situation when he was younger. Will my 2 fund portfolio even be that close with me maxing out a roth/401k and then putting extra in a taxable. I am 20 years younger than he is but I would be happy with $3M at retirement.



Submitted May 27, 2019 at 02:31PM by tdooty http://bit.ly/2YOimH2

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