From the course: Start Young for Your Best Retirement
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Retirement savings: What are the product options?
From the course: Start Young for Your Best Retirement
Retirement savings: What are the product options?
- So let's say you're all fired up to get yourself organized for retirement. A lot of your success will come from your financial habits. But success can also hinge upon what sort of account or product you put your money into. So, what are the options? The first is a tax-advantaged retirement account. If you're not familiar with the options in your country, Google it. These accounts are set up that you can grow and withdraw your money, with as little tax burden as possible. By reducing the tax owed on your investments, your savings should grow more quickly. Tax-advantaged accounts are available at stockbrokers, most banks, and sometimes through your employer. In the US, an employer-based 401k tax-advantaged account also has the benefit of an employer contribution. If your employer offers one, definitely take advantage of it. Now, if you don't want to manage your investments yourself, you can look for someone to do it for you, but make sure of these two things. One is that they are a…
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