Sometimes “hanging tight” isn’t the best solution during times of volatility. We’ve had two bear markets since the Great Recession of 2008. COVID-19 was the first, and the inflation that ensued thereafter in 2021-2022 led to the second. Tax Loss Harvesting involves selling investments when they are down in value (in a taxable account) to create a realized loss for tax purposes. You can then use these losses in current or future years (retirement) to reduce taxes!
These opportunities don’t come every year, so it’s important to take advantage while you (still) can!
I hope you enjoy this episode!
~Kevin
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This is for general education purposes only and should not be considered as tax, legal, or investment advice.
