Take advantage of taxadvantaged accounts from "summary" of Investing Simplified by Chuck Price
Tax-advantaged accounts are a gift from the government to help you grow your money faster than you could in a regular investment account. These accounts come in various forms, such as 401(k)s, IRAs, and Health Savings Accounts (HSAs). What sets them apart is their tax benefits, which can lower your tax bill and allow your investments to compound more effectively over time. For example, with a traditional 401(k) or IRA, you can contribute money on a pre-tax basis, meaning you reduce your taxable income in the current year. This can lead to immediate tax savings, as you don't have to pay taxes on the money you contribute until you withdraw it in retirement. On the other hand, Roth accounts, like Roth IRAs and Roth 401(k)s, allow you to contribute after-tax money, but then all your withdrawals, including an...
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