4 Investment Accounts for Financial Success

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There are various investment accounts, depending on your lifecycle and financial goals. Choose investment accounts that advance your goals. Your goals may be to begin investing, saving for retirement and college, liquidity for emergencies, and tax optimization strategies.

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Families may want to set up college savings or custodial accounts for young children, including a Roth IRA. Young investors may want to open a standard brokerage account, depositing some cash to get started buying index funds

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Financial Success

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1. Standard Brokerage Account

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Taxable accounts require holders to pay taxes on any interest or dividends they earn on investments and any investment gains realized in the year made.

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Typically, most brokerage accounts are cash accounts, but some investors want to open a margin account.

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Individual and Joint Accounts

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Investors, especially young beginners, may want a self-directed brokerage account to take control over their investments, and make choices over the type of securities, individual stocks, ETFs, and mutual funds they buy for their portfolio.

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Swipe Up

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4 Investment Accounts for Financial Success

There are various investment accounts, depending on your lifecycle and financial goals. Choose investment accounts that advance your goals. Your goals may be to begin investing, saving for retirement and college, liquidity for emergencies, and tax optimization strategies.

Families may want to set up college savings or custodial accounts for young children, including a Roth IRA. Young investors may want to open a standard brokerage account, depositing some cash to get started buying index funds

Financial Success

1. Standard Brokerage Account

To open a brokerage account, you must be at least 18 years of age and have a social security number or tax ID.

Taxable accounts require holders to pay taxes on any interest or dividends they earn on investments and any investment gains realized in the year made.

Typically, most brokerage accounts are cash accounts, but some investors want to open a margin account.

Cash and Margin Accounts

Individual and Joint Accounts

You can open an individual or joint brokerage account. An individual account means the holder retains ownership and has responsibility for paying taxes earned.

Investors, especially young beginners, may want a self-directed brokerage account to take control over their investments, and make choices over the type of securities, individual stocks, ETFs, and mutual funds they buy for their portfolio.

Self-Directed Account or Financial Advisor

Swipe Up

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