Retirement Accounts

by Retirement Advisor | Aug 13, 2022 | Keogh Plan

Join the course on introduction to investments on Topic covered: Retirement accounts versus regular taxable account, note: don’t confuse the types of accounts with the investments inside the accounts, retirement account (a.k.a. tax-qualified account, qualified account, tax-advantaged account), regular account (a.k.a. taxable account, non-qualified account), pre-tax retirement accounts, Individual retirement account (IRA) — actual name is Individual Retirement Arrangement, 401(k), 403(b), 457, 401(a) plans — (sometimes known as TSA for tax-sheltered account or tax-sheltered annuity), 401(k) is for private employees; 403(b) & 457 & 401(a) are for public and non-profit employees, TSP (Thrift Savings Plan) for Federal employees including military, SIMPLE IRA, SEP-IRA, Keogh, SAR SEP (discontinued), Simple 401(k) — for self-employed or small business, post-tax retirement accounts, Roth IRA — tax-free in retirement, “Roth 401(k),” “Roth 403(b)”, generous “catch-up” provisions for those 50 years old and over, tax credits for low-income retirement savers, annuities — compare fees and returns with other investments…(read more)