Thank you for the time you have taken to assist me, AJ! I am going to open a couple of Traditional IRA’s, one for me, one for my wife, to reduce 2022 Federal tax liability. Hopefully, but I’m not sure, this will also slightly reduce my State tax liability as well.
Now I just need to learn about what type(s) of investments I want the IRA’s to track, and who the best brokerage is. Easy, right?!
What resources on The Motley Fool would you recommend I read to learn more?
Daddy-O
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Unfortunately, TMF isn’t what it used to be. There used to be a series of articles on “get started investing” but I can’t find that any longer. I did find this section Latest Investing Education topics - Motley Fool Community on investing education. Since I haven’t vetted any of that content, I won’t endorse it, but you may find some useful information in them. Others may have some suggestions.
Here’s an article from nerdwallet, which I generally find to provide useful and correct information, on choosing a broker Compare Online Brokers For Stock Trading - NerdWallet
Here’s a transcript of a nerdwallet podcast on how to get started in investing Smart Money Podcast: Your Money in 2023: Investing in the Stock Market - NerdWallet
AJ
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Thank you very much, AJ! I did find an article on The Ascent, which is a MF service, apparently, Fidelity 2023 Review: Pros, Cons, and More | The Motley Fool which also gives recommendations on choosing a broker. It’ll be interesting to see how the compare with NerdWallet.
Daddy-O
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