5 Types of Investment Accounts That You Must Know About

As you just get started with making smarter money moves, you might be a bit confused and overwhelmed as to what types of investment accounts you should open. 

Five Common Types of Investment Accounts

Brokerage Account

A standard brokerage account is also sometimes called a taxable account or non-retirement account. This is because a brokerage account offers access to several different investments such as stocks, bonds and ETFs.

Five Common Types of Investment Accounts

401k 

A 401k is a well-known and common type of investment account. It’s a retirement account that allows employees to contribute a percentage of their income into their investment account that is run by the employer.

Five Common Types of Investment Accounts

IRA

The IRA (Individual Retirement Account) is a separate retirement account to help you save more and invest in your retirement, in addition to your 401k or employer sponsored plan. 

Five Common Types of Investment Accounts

529

A 529 savings account is a tax-advantage account that is specifically for individuals who want to save for a beneficiary’s (usually their child) higher education. 

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