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Live It Up Without Outliving Your Money!: Getting The Most From Your Investments in Retirement by Paul Merriman

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Chapter 12. Putting Your Ideal Portfolio to Work

Genius is the ability to put into effect what is in your mind.

F. Scott Fitzgerald

If you have followed the sequence of learning and thinking and evaluating the steps in this book so far, by this time you know what kinds of assets are likely to maximize your chances of investment success while keeping your risk under control. The question at this point is purely practical: Where is the very best place to put your money so you get the assets you need?

You know you should use no-load mutual funds and that you should diversify widely among the right asset classes. You know you should do all you can to minimize your expenses and taxes. There are many places you can invest your money to get an adequate return. But there's no reason you should settle for an okay portfolio when you can have a great portfolio.

This chapter shows you several ways to go from okay to great. None is perfect, but any one of them can be a low-cost ticket to successful, tax - efficient investing.

A number of no-load mutual fund families offer low-cost funds that are definitely a cut above the ordinary. For investors with 401(k) plans run by T. Rowe Price, Fidelity, or Vanguard—and for other investors who for whatever reason want to keep their money at one of those companies—our suggested portfolios show how to take maximum advantage of that opportunity.

For taxable accounts, there are excellent funds specifically managed to reduce your income tax bite, leaving more of ...

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