Money Girl Retirement Accounts Explained–5 Types You Should Know
May 9, 2025
Explore the essential differences between traditional and Roth IRAs, including contribution limits and tax implications. Learn about maximizing SEP IRAs for self-employed individuals and the importance of custodians in managing retirement accounts. Discover the benefits of 401(k)s and strategies for smart investing, plus insights on planning for those without employer-sponsored accounts. This informative discussion helps listeners navigate their retirement savings effectively and emphasizes the value of consulting with a financial advisor.
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Invest Regularly for Retirement
- Regularly invest in tax-advantaged retirement accounts for a comfortable retirement.
- Contributing steadily is wise regardless of current political or market volatility.
Retirement Accounts Are Investment Shelters
- Retirement accounts are investment shelters that offer tax advantages.
- They protect your investments from taxation while held inside the account.
Use Traditional IRA Wisely
- Traditional IRA contributions are tax-deductible but withdrawals after retirement are taxed.
- Avoid early withdrawals before age 59½ to prevent penalties and extra taxes.