This week, I am showing you why certain athletes go broke.

In it, I will show you:

You can check it out here ⬇️⬇️⬇️

This week, Luke will show entrepreneurs how to build a $10M Portfolio.

In it, he will show you:

You can check it out here ⬇️⬇️⬇️

I love paying less in taxes.

Yet often I see people pay less in taxes in one given year but then have no strategy for the decades that follow.

The result is loss of control, flexibility, and leaving the IRS a big tip.

This plays out the most when clients start spending off their investment portfolio.

Consider that most portfolios are split into three account groups:

It starts out easy enough.

Max out your 401(k) and/or your IRA, then you learn about the Roth IRA, and then the excess goes into your taxable brokerage account.

Then you realize that you need to be thoughtful about what investments actually go in these accounts.

Example: You don’t want investments like REITs or high-yield funds sitting in your taxable account when you could be deferring those taxes. You don’t want your highest appreciated positions sitting in tax-deferred accounts if they could be growing tax-free in your Roth accounts.

Then you realize that as a high net worth investor, the last money you might touch is that tax-deferred money.

Example: For the clients we work with ($10M+ investors), those 401(k) and IRA dollars are not being spent first. In fact, they are often not being spent until RMD age (73 or 75 depending on your birth year).

The problem then compounds when you realize the IRS makes you take out 3.7%-10%+ based on your age.

On a $10,000,000 tax-deferred account, that is $377,000 to $1,000,000+ in ordinary income.

Income that you cannot defer or plan around.

You see that mistake is one that was compounding for decades prior…you just didnt’ see it.

In fact, it started when you made the initial contribution and never considered your future strategy.

So remember, when it comes to taxes, you will either pay them now, later, or never.

The key to lowering your lifetime tax bill is building a plan that allows you to determine when you pull each lever.

Until next time, my friends!

P.S. If you are sitting on a $10M portfolio and trying to figure out how to reduce your future tax bill, we can help. You can schedule an intro call with me here.

Required minimum distributions (RMDs) are a ticking time bomb.

Between the loss of control and the tax bill, I have seen countless times high net worth investors wish they could have ‘do-over ’.

Remember, taxes are a lifetime game.

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Moment Private Wealth, LLC is a SEC Registered Investment Advisor, located in the State of Missouri. Moment Private Wealth provides investment advisory and related services for clients nationally. Moment Private Wealth will maintain all applicable registrations and licenses as required by the various states in which Moment Private Wealth conducts business, as applicable. Moment Private Wealth renders individualized responses to persons in a particular state only after complying with all regulatory requirements, or under an applicable state exemption or exclusion. Nothing in this content is intended to be, and you should not consider anything in this content to be, investment, accounting, tax, or legal advice.