Question : what to do with excess money? We max out all investments, but need to tax shelter more.?
please don't be a smart mouth and answer "give it to me." We max out our Roth IRAs, 401K, and (2) 529 plans. We still have too much in bank accounts. What else should we do?I should add that we give quite a bit to pro-life organizations and a few other charities.
- asked by ohioconservative
All Answers:
Answer #1
You can always buy some annuities - and there aresome out there now by Fidelity that don't havesuch high fees as others - the good thing about anannuity is that there is no maximum you can put init.Also, if taxes are a problem, you can putthings in municipal bond funds that are tax-freeboth from federal and your state taxes.
- answered by girlwhoknowsitstrue
Answer #2
Invest in tax attorneys
- answered by caballero5792
Answer #3
simple, American heart society, Animal shelter,etc...With charities you can even take it as a taxwrite off.
- answered by heidislittlepieceofheaven
Answer #4
Sponser a child through worl Vison. its a greattax right off and you might just feel good aboutdoing it.
- answered by rick j
Answer #5
tax exempt mutual funds, money market accounts,CD's
- answered by Cliff
Answer #6
hmmm... you've done all the acceptable legalthings, just imagine you're purchasing anexcellent road system, protection,. education foryour children, workers and coworkers, insuranceagainst all sorts of disasters and loads of othergoodies.
- answered by TyH
Answer #7
Buy an annuity. The money grows tax deferred underan annuity. Be very careful in buying an annuitybecause of the hidden fees. Second choice is buygrowth stocks. These stocks pays no divided butgrow in value. Buy assets with fixed debt, e.g areal estate. The beauty of fixed debt is it staysfixed but overtime the purchasing power decreasesevery year.
- answered by vijay p
Answer #8
just invest it - rental real estate, tax free munibonds, regular taxable mutual funds - you cannever have too much money - the tax rate is lessthan 100%
- answered by Doctor Deth
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measure and fulfill your financial needs
