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What is asset location? Learn how this strategy can help with tax planning today on Elevate Wealth. Hi, I'm Brian Rosso with Elevate Wealth Advisory and I'm joined here today with our president and CEO Deanne Rosso. Hey, Deanne. Hey, Brian. So we talk about asset location, but what exactly does that mean and how can it help with tax planning? Yeah, Brian, we talk about asset location a lot like we just think people understand what that means, but the main point is where you hold your assets matters. Which type of account you hold assets in makes a difference. So it does it matter which assets you hold in those accounts. Yeah, and so by assets we mean stocks, bonds, real estate. Right. And then you know you have your different account types like we talked about in our last video on tax buckets, and so what you want to do is you want to locate stocks, for example, which give off capital gains and dividends of better tax rates. Generally you want to hold those in that middle bucket in that tax advantaged bucket because you're going to pay a more tax efficient rate on those assets on the growth and on the gains of those versus like bonds or real estate for example, which can give off ordinary income, and you want to hold those types of Assets in like IRAs, 401ks, that tax deferred bucket that we talked about in the last video because regardless of whether or not they come out of a tax deferred account or out of a taxable account, every dollar is going to be ordinary taxable, or the gains on those are going to be taxed at ordinary rates. So I kind of think of it as like baking a cake. I'm a baker, and when you bake, you have to be really precise with the ingredients. When you cook you can kind of throw things together and be imaginative and come up with a good dish, but when you bake in order for the cake to rise and bake properly the ingredients have to go there in a very specific way. And so it's the same thing with asset location. Where you put the assets matters in order to get the most tax efficient return and use of those dollars in the long run so that your portfolio "cake," if you will, bakes up and rises correctly. So when we're utilizing asset location it can really stretch each dollar of savings to its maximum in retirement. That is exactly right. So if you need help optimizing your tax plan we're here to help. Visit elevate-wealth.com and click, "Let's talk."

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