Learn what the different types of accounts are and what assets should be placed in which account to avoid huge tax bills and have more money for yourself.
The distribution of assets among savings vehicles such as variable life insurance policies, foundations, and onshore versus offshore accounts is referred to as asset location.
The primary objective of asset location is to minimize taxes. You can also achieve other goals, such as privacy, creditor protection, reduction in risk of government seizure, etc.,
The location of your assets will minimize taxes and increase the tax efficiency of your securities and fixed income portfolio. And this can affect how much you will earn on your investments after taxes over time.