Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: A Different Way To Think About Your Future
Jan 14, 2024
Suze Orman's podcast discusses a different approach to retirement savings, exploring the benefits and strategies of regular investment accounts, Roth IRAs, and employer matches. They also compare the pros and cons of pre-tax 401k plans versus investment accounts, and delve into the tax implications of 401k plans and the benefits of an investment account after the match.
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Quick takeaways
- Investment accounts offer greater flexibility in investment options and lower fees compared to retirement accounts.
- Investment accounts provide advantages such as the ability to write off losses, no penalties for early withdrawals, and more favorable tax treatment upon death.
Deep dives
Advantages of an investment account over a pre-tax 401k
When planning for retirement, many people believe that the only way to save is through a retirement account like a 401k or IRA. However, the majority of wealthy individuals actually invest in regular investment accounts. Unlike retirement accounts, investment accounts offer greater flexibility in investment options and lower fees. Additionally, while retirement accounts provide a tax write-off, investment accounts are tax-deferred while the investments are held. Furthermore, investment accounts offer advantages such as the ability to write off losses, no penalties for early withdrawals, no limitations on access to funds, and more favorable tax treatment upon death.
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