The Third Step You Have to Take to Get Rich In the Stock Market!
This step is really important and most people just dont get it. Listen carefully you have to deferred, avoid, and reduce capital gains taxes to the bare minimum! Well, how do I do that you ask? The best thing to do of course is to completely avoid capital gains taxes. The only way to do that is to open a Roth IRA. The reason you avoid capital gains taxes is that you pay your income taxes first and then you never pay taxes on any profits of the money you put into your Roth IRA.
If you make a lot of money though, you cant open a Roth. In that case you need to open a Standard IRA and of course if your company matches in a 401(k) you need contribute up to the matching. In a 401(k) make sure that you only buy a no-load indexed mutual fund. Get your accounts open! Get your accounts open! Get your accounts open! I cant overemphasize or shout this loud enough. Once you have your account open you will be motivated to start investing if you dont know how to trade through such an account I can teach you.
Here is a key point if you trade in an individual trading account where you are...
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