Repost from @thatscommoncents • Still lost on how retirement accounts work? 👉🏻 Follow @thatscommoncents to learn to build wealth & invest confidently 💸 I broke it down for you so don’t have to be confused any more Just a note that these aren’t all investment options available to you, just the major ones 💸When do you pay taxes? With a Roth 401(K) or IRA - you pay taxes now, and your investments grow tax free With a Traditional 401(K) or IRA - you get a tax break now and you pay taxes when you withdraw With a HSA - if you use the $$$ for 💸What types of investments can you pick? With s IRA - it is opened by you so you are not limited With a 401(k) or HSA - you’ll be limited by the funds chosen by your employer or HSA provider - its usually around 10-20 set mutual funds but may be different for everyone 💸How many can you have? You have ALL 3 as long as you qualify! PS make sure to work with a tax professional to see what is best for you 💸 Want to learn more about getting started? 💲Book a coaching session in my bio! ✨ Check out my blog for more free resources . . . . . . . . . . . . . . . . #debtfreecommunity #investing101 #financialfreedom #personalfinance #firecommunity #savemoney #investingforbeginners #personalfinanceforwomen #buildwealth #millennialmoney #financialindependence #investingtips #financialpeace #networth https://www.instagram.com/p/CRysAVIrS4575XPeV7oV99hjkbDSc8BS0J8WbA0/?utm_medium=tumblr













