How should I start investing in retirement accounts?
An example of an AI chatbot conversation about investing in retirement accounts.
How should I start investing in retirement accounts?
It's great that you're thinking about retirement! A good first step is to understand the different types of retirement accounts available, like 401(k)s and IRAs.
What are the differences between a 401(k) and an IRA?
A 401(k) is employer-sponsored and often includes matching contributions, while an IRA is an individual account with different contribution limits and tax benefits.
How much should I contribute to my retirement account each month?
A common recommendation is to aim for 15% of your income, but it can vary based on your financial situation and retirement goals.
What if my employer doesn't offer a 401(k)?
If your employer doesn't offer a 401(k), you can open an IRA on your own. There are traditional and Roth IRAs to choose from, depending on your tax situation.
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