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For investors worldwide, 2025 was anything but boring: It was great for metals, surprisingly bad for crypto and particularly nice for stocks outside of the U.S.
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Will the A.I. Boom Continue to Drive Up Stocks in 2026? The New York TimesWall Street Ends 2025 Grinning Despite Some Gloom Bloomberg.comWall Street ends 2025 near record highs after year of economic upheaval The GuardianStock market ends 2025 with double-digit gains ABC News
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So Long, Warren. Buffett Leaves Astonishing Gains As He Steps Down As CEO. Investor's Business DailyWarren Buffett retires as Berkshire Hathaway CEO NBC NewsBe a good person and buy boring stocks: Wall Street reflects on Warren Buffett's wisdom Yahoo FinanceToday is Warren Buffett's last day as Berkshire CEO. Business leaders tell us what they learned from him CNN
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Gold Forecast 2026: Why Macro Forces and Technical Breakouts Point to $6,000 FXEmpire'We're in a metals war': Gold, silver track their best year since 1970s as volatility grips trade Yahoo FinanceSilver shines in 2025 global market spotlight as softs, oil lag ReutersSilver, gold and copper trounced stocks. Here's what a key chart level suggests could be ahead for 2026. MarketWatch
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Warren Buffett steps down as Berkshire Hathaway CEO after six decades Los Angeles TimesBe a good person and buy boring stocks: Wall Street reflects on Warren Buffett's wisdom Yahoo FinanceSome Warren Buffett wisdom on his last day leading Berkshire Hathaway AP NewsWarren Buffett retires as Berkshire Hathaway CEO NBC News
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Some Warren Buffett wisdom on his last day leading Berkshire Hathaway AP NewsToday is Warren Buffett's last day as Berkshire CEO. Business leaders tell us what they learned from him CNNBe a good person and buy boring stocks: Wall Street reflects on Warren Buffett's wisdom Yahoo FinanceWarren Buffett retires as Berkshire Hathaway CEO NBC News
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Editor's note: This is part six of a seven-part series. It dives more deeply into the second strategy for defusing a retirement tax bomb, implementing asset location. If you missed the introductory article, you may find it helpful to start here.
Most investors have heard of asset allocation, but asset location is another story - and it could help investors with large tax-deferred savings reduce their tax bills in retirement.
SEE MORE When It Comes to Your RMDs, Be Very, Very Afraid!
Asset allocation refers to how a portfolio is allocated to various asset classes that have different historical investment returns and standard deviations. The simplest example is a stock-bond allocation, such as a 60% stock, 40% bond allocation, which is a common allocation for retirees. But there are dozens of more granular asset classes that can be managed as well, for example, U.S. large cap stocks or international small cap value stocks. Asset allocation is critical to effectively diversify your portfolio and reduce risk.
Asset location is different portfolio management strategy: one that few clients I meet have heard of. Few financial advisers implement it as well. Asset location seeks to minimize taxes by placing different asset classes in specific tax buckets (taxable, pre-tax, tax-free).
Putting Asset Location into Practice
In a nutshell, here's how asset location works:
Typically, you want to place investments with low expected returns, such as bonds, into tax-deferred accounts.Place investments with high expected returns, such as small value or emerging market st
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