Tax-Advantaged Accounts

Tax-Advantaged Accounts

Use tools like Roth IRAs, 401(k)s, and HSAs to save money on taxes while you grow wealth.

Tax-advantaged accounts are like secret weapons for your money. They let you save and invest while paying less in taxes, which means more money stays in your pocket. It's criminal how poor financial literacy is in the US, and how many people don't know about these accounts. There are a few main types that everyone should know about:

• Individual Retirement Accounts (Traditional IRAs and Roth IRAs)
• Employer sponsored plans (Traditional or Roth 401(k), 403(b), 457(b))
• Other savings accounts (Health, Education, etc.)

These accounts let you save money for retirement or other goals while getting tax breaks.

The key is to start using these accounts as early as possible. The earlier you start saving and investing in them, the more time your money has to grow. Plus, the tax benefits can add up significantly over time.