When it comes to solid financial planning, the truth remains that you’ll reap huge benefits by doing a few key things correctly. You don’t need to be a perfectionist or a fortune teller, but you do need to take some basic actions as soon as possible to put yourself on the right long-term track.
Here we’ll explore some of these actions that anyone can do — or at least begin to do — today.
1. Become tax aware
First, be aware that short-term trading (defined as entering and exiting positions within the span of a year) will cause any gains to be taxed at your ordinary income rate, which is typically your highest rate. Stocks and other…