Which investments should I keep in my taxable account versus my retirement accounts?

The general asset-location rule: put tax-inefficient assets in tax-sheltered accounts and tax-efficient ones in taxable. Bonds, REITs, actively managed funds with high turnover, and anything throwing off ordinary income belong in a traditional IRA or 401(k) where that income isn't taxed yearly. Broad stock index funds and ETFs, which are tax-efficient and generate mostly qualified dividends and long-term gains, work well in a taxable brokerage. Assets with the highest expected growth, like aggressive stock funds, are often best in a Roth so all that growth escapes tax forever. The goal is minimizing your total after-tax return across all accounts, treating them as one portfolio. Use the Tax Strategies tool at wealthserene.com/tools/tax-strategies to map your placement.