30 Days to Becoming a Better Investor – Day 17

Jonathan, from MyMoneyBlog, brings us tonight’s investment tip. If after exploring your inner investor you discovered that index funds are the way to go for you, Jonathan’s advice may save you some money on your taxes.

Jonathan details a way you can reduce your taxes by selling your index ETFs that are down for the year and then immediately purchasing similar ETFs. This is a pretty clever trick that could potentially save you a bit a money. Read “How to Beat the Market?” for the details. Jonathan describes two scenarios to explain the potential tax savings and an interesting discussion follows.

You can follow the 30 Days to Becoming a Better Investor series on the summary page.