It is only natural for investors to want assets with the best possible performance and lowest costs, but the secret to building wealth has less to do with returns and more to do with your savings rate, according to analysts at Pension Partners. In other words, the amount of money you contribute to your retirement fund is far more important than what investment vehicles the money is parked in, as you can control the former but not the latter. It makes sense intuitively. Saving $20,000 a year will grow your wealth a lot faster than saving $10,000 a year. But even incremental savings-rate increases play a far bigger role than corresponding increases in the rate of return. To illustrate the importance.
If you’re like most people planning for retirement, your focus for years has been on growing your nest egg — accumulating as much as you can so you can live comfortably and without worry. But if that’s as far it goes, your plan is flawed. Because it isn’t just about how much money you have saved for retirement, it’s also how much you get to keep after taxes. To optimize your savings, it’s important to build a tax-efficient portfolio with: Tax-efficient investments — investments that offer the lowest tax burdens relative to their interest or dividend income; Tax-efficient withdrawal strategies — differently taxed accounts you can pull from that offer flexibility for income purposes; and Tax-efficient
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