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The Money with Katie Show

Investing *Outside* Your Retirement Accounts

The Money with Katie Show

Money with Katie

Investing, How To, Self-improvement, Business, Education

4.8 • 1.3K Ratings

🗓️ 30 August 2023

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today we're venturing into the world of taxable investing—aka flexible money you can access at any time. How do we balance building wealth here along with our tax-advantaged accounts like a 401(k) or an IRA? Who should be making this a priority? And how does it actually work? Let's dive in. Reminder: While I love diving into investing- and tax law-related data, I am not a financial professional. I have no formal financial education. I am not a financial advisor, portfolio manager, or accountant. This is not financial advice, investing advice, or tax advice. The information on this podcast is for informational and recreational purposes only. Investment products discussed (ETFs, index funds, etc.) are for illustrative purposes only. It is not a recommendation to buy, sell, or otherwise transact in any of the products mentioned. Do your own due diligence. Past performance does not guarantee future returns.  Money with Katie, LLC. Transcripts can be found at podcast.moneywithkatie.com — Mentioned in the Episode How to Set Yourself Up to Pay No Money in Retirement: https://podcast.moneywithkatie.com/deep-dive-set-yourself-up-to-pay-no-penalties-or-taxes-in-early-retirement/ How Your Investments are Taxed: https://moneywithkatie.com/blog/how-your-investments-are-taxed — Follow Along at Money with Katie: https://moneywithkatie.com/ Watch on YouTube: https://www.youtube.com/@MoneywithKatie Follow Money with Katie! - Instagram: https://www.instagram.com/moneywithkatie/ - Twitter: https://twitter.com/moneywithkatie   Subscribe to The Money with Katie Newsletter - Sign up for free today: https://www.morningbrew.com/money-with-katie/subscribe/2 Follow the Brew! - Instagram: https://www.instagram.com/morningbrew/ - Twitter: https://twitter.com/MorningBrew - TikTok: https://www.tiktok.com/@morningbrew Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome back to the Money with Katie Show, my rich family.

0:11.6

I hope you're in the mood for a nerdy episode because today, we're going to explore how

0:16.6

you can invest outside of your retirement accounts, aka money you can touch before

0:22.3

your 59 and a half.

0:24.4

Think about this episode like a comprehensive overview of taxable investing.

0:35.2

Because if you've ever sheepishly opened up a Robinhood account or curiously dabbled

0:39.4

with a round up app like Acorns, you're already doing some taxable investing, but most of

0:44.9

the time I find that people don't have a systematized approach to their taxable accounts, either

0:50.3

that or you feel analysis paralysis about choosing a brokerage firm and just plowing ahead.

0:56.3

Taxable brokerage accounts are an important piece of your financial ecosystem because

1:00.2

of the flexibility they can provide for you.

1:03.0

I think about ours, a joint account between my husband and me that we call KGT TMT world

1:08.9

domination like our war chest.

1:12.2

We've been shoveling cash into it since we got married in late 2021, which means we

1:16.7

started investing at the tippy top, but then dollar cost average through the bear market

1:21.7

of 2022, and we are currently up a whopping 18.27% in this account since its inception.

1:29.9

So before we get into the granular dirty details, let's talk about what a taxable brokerage

1:35.0

account is, what it's good for, and why you need one.

1:41.6

I find that taxable investing often gets the shaft, so people will contribute the maximum

1:46.1

to their retirement accounts.

1:47.5

They'll still have money left over to save, but they won't know what to do with it or

1:51.8

where to put it.

...

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