What are tax-advantaged accounts?
An example of an AI chatbot conversation about tax-advantaged accounts and their benefits.
What are tax-advantaged accounts?
Tax-advantaged accounts are financial accounts that offer tax benefits, such as tax deductions or tax-free growth.
Can you give me examples of these accounts?
Sure! Common examples include 401(k) plans, IRAs, and Health Savings Accounts (HSAs).
How do these accounts help with saving for retirement?
They allow your investments to grow tax-deferred or tax-free, maximizing your savings over time.
Are there any limits on how much I can contribute?
Yes, each account type has specific contribution limits set by the IRS, which can change annually.
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