‘Tis the season for stock market year-end reviews along with 2020 predictions to get spread across investors’ tables. Our recommendation is to use a table with four legs.
Finding the next dollar of growth will get all the attention. But, that’s just one leg. There are three more that can put the same dollar in your pocket.
1. Risk
2. Cost
3. Tax
4. Growth
The dollars in your account from the first three are much easier to find because you already have them. All you have to do is keep more of them.
[Read Part 1 of our Year-End Financial Planning Series on Risk]
If the COST leg is just a little too long, then many of your dollars are sliding off your table and hitting the floors on Wall Street, perhaps without you even noticing.