What Is The Best Investment For You?
Today I answer a reader’s question. The question is, “What is the Best Investment For Me? What about for my IRA?”
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Well, there is no one perfect investment for everybody. It will depend on a number of factors. Three main factors include:
1. Your risk tolerance
2. Your time horizon
3. Your income sources
Since everyone will have a different risk tolerance, investing time horizon, and different levels of income sources in retirement, that means one investor’s most suitable investment may be completely unsuitable for another investor.
The same guidelines apply to investments inside your IRA. But IRA do have the benefit that you don’t pay tax on them until you pull the funds out. So if you experience capital gains inside your IRA you don’t pay capital gains taxes on those gains.
What these means is that if you pursue an investment strategy that involves more frequent trading, it may be wise to use your IRA funds for the more frequent trading.
Hope this answers the question. If you are wondering what is the best investment for you, then of course feel free to give me a call and I will help point you in the right direction.
Best of luck!