Which type of retirement account is best for your situation? Learn about the various tax advantages of different types of retirement accounts here.
Even though most people don’t retire until their later years in life, it’s important to start planning for retirement as soon as you can.
There are many different ways to save up for retirement, but some are better than others. The best retirement accounts are those that are tax-advantaged.
Tax-advantaged accounts are beneficial because the IRS gives these accounts a tax break of some kind. They are either tax-deferred or tax-exempt.
We’ll explain more below:
Tax-Deferred vs. Tax Exempt
With tax-deferred retirement accounts, you pay taxes when you withdraw
money
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