What are the best investment vehicles for retirement?
The best investment vehicles for retirement typically include 401(k)s, IRAs, Roth IRAs, and annuities. Each has its own benefits.
Can you explain the differences between a 401(k) and an IRA?
Sure! A 401(k) is employer-sponsored and often includes matching contributions, while an IRA is individually managed and has different contribution limits.
What are the tax benefits of a Roth IRA?
A Roth IRA allows your investments to grow tax-free, and qualified withdrawals in retirement are also tax-free.
How much should I contribute to my retirement accounts?
It's generally recommended to save at least 15% of your income for retirement, but this can vary based on your financial goals.
What other investment options should I consider?
In addition to retirement accounts, consider stocks, bonds, mutual funds, and real estate for a diversified portfolio.
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