which one is bigger below?
1. Asset * (1+return) ^ T * (1-tax rate)
or
2. Asset * (1-tax rate) * (1+retunr) ^ T
The key is tax rate at contribution vs. distribution.
just my 2c
1. Asset * (1+return) ^ T * (1-tax rate)
or
2. Asset * (1-tax rate) * (1+retunr) ^ T
The key is tax rate at contribution vs. distribution.
just my 2c