Tax-Savvy Investing: 10 Ways to Minimize Your Tax Burden

7. Use Dividend Growth Stocks

Dividend growth stocks are companies that have a history of consistently increasing their dividends. These dividends are taxed at a lower rate than ordinary income, making them more tax-efficient.

By focusing on dividend growth stocks, you can generate a steady income stream that is taxed more favorably. This can be especially beneficial for retirees looking for reliable income sources.