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But any other investments I make must be tax favored. (Not how bad income from trader would be here.) There are three ways:

1) Deferred tax annuities. But the problem is that is ties up money for so long, and if you pull it out it hasn't gained much more than if it were always out.

Non-def'd Def'd
(1+p/2)(1+p/2) 1-(1+p)(1+p)
------------------ +1
2
1+p+(p*p)/4 1 + p +(p*p)/2

Difference is just (p*p)/4 or at 14% about 0.5% every year. Even consider a case of 5 years at 14%, on 25K pre-tax value is 48,135. At 50% bracket even, post tax value is $36,567, or (35567/25000)(35567/25000) gives a 7.9% rate.