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my free advice (which is worth what you pay for it), is to err on discarding rather than keeping. Moving and or/storing gets expensive in a hurry. We used the opportunity to buy all new furniture. We had to get rid of a lot anyway. I had far too much “stuff” - decorative, sentimental, photos, etc. I really looked with an eye of what ds might want.
if your kids are local, do you expect that they will come to the Cape for holidays and summers. If so, buying enough room for that in the new place would make sense.
Capital gain on regular after-tax brokerage accounts will be taxed at capital gain rates if you sell while you are alive, but stepped up if you leave them to your heirs
Dealing with the 60+ cans of paint that have accumulated over the years has actually been the biggest hassle so far.
Check if your local garbage company has a hazardous waste drop off place you can take them to
If you invest in mutual funds after-tax, you can get hit with capitals gains every year, as the fund is required to distribute the gains every year, and there is churn as shares get redeemed and the portfolio turns over. Index funds can mitigate this to some degree.
Capital gains on the equity funds in the Roth IRA will never be taxed. Capital gains on the funds in the traditional IRA will be taxed at ordinary income rates.
Check if your local garbage company has a hazardous waste drop off place you can take them to ...
However, aren't traditional and Roth IRAs basically equivalent if the marginal tax rates at the beginning and end are the same? (Of course, they may not be, in unpredictable ways.)
For example, starting with $1,000 of pre-tax money, assuming doubles over time in investment, 30% marginal tax rate at beginning and end:
* Traditional: $1,000 into investment, doubles to $2,000, taxed at 30%, you end up with $1,400.
* Roth: $1,000, taxed to $700, invested, doubles to $1,400, you end up with $1,400 after tax-free withdrawal.
I would only recommend index funds that have a history of little to no capital gains distributions. My Vanguard Total Stock Market fund has not had one since I've owned it.
You are also assuming that capital gains tax rates will always be less than regular income rates, and that the estate tax rules will remain (more or less) the same. That is not a sure thing at all. It's not inconceivable that this could all get flipped on its head in the future.
However, aren't traditional and Roth IRAs basically equivalent if the marginal tax rates at the beginning and end are the same?
your local Sherwin-Williams store will recycle latex and oil-based paint free of charge.
Our local waste drop off is just a drive thru. Pull up, pop the trunk, and guys with HazMat suits empty the stuff out.