In this video, we break down the major retirement savings vehicles: including IRAs, 401(k)s, 403(b)s, 457 plans, Roth IRAs, brokerage accounts, and annuities, and explain how each can fit into your overall retirement plan.
You’ll learn:
- What is the difference between taxable, tax-deferred, and tax-free accounts?
- How do 401(k), 403(b), and 457 plans work?
- Should you contribute to a Roth IRA or a traditional IRA?
- Why you should take advantage of your employer’s full retirement plan match
- What is vesting, and why does it matter?
- How annuities work and what to consider before purchasing one
- Why Roth IRA contributions and earnings have different withdrawal rules
- How to think about Roth vs. pre-tax contributions ]
- Why having multiple types of retirement accounts can provide greater flexibility
- How taxable accounts can complement your retirement accounts
- How your account mix can help fund both monthly income and larger retirement purchases
A strong retirement strategy isn’t about choosing one “perfect” account. It’s about building the right mix of retirement vehicles based on your income, tax situation, goals, and the type of retirement you want.
This video is based on concepts discussed in Financial Success for the Rest of Us.
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