Ask a CFP® – Foundational Questions Edition: What’s a Taxable Brokerage Account?
If you’ve been following along in our Account Types Series during the first few weeks, you might have found yourself wondering things like:
“Wait, there’s a limit to how much I can invest in my IRA and 401(k) each year? Can I invest more?”
“I want full access to all of my funds at all times without any early withdrawal penalties…is there a different option?”
“Can’t I just invest in a “regular” investment account?”
The answer is: Yes, you can.
And this week, we’re going to explore exactly how with a type of account that often gets overlooked in the retirement planning conversation: the taxable brokerage account (also called a non-qualified account).
Ask a CFP® – Foundational Questions Edition: What’s the difference between a Traditional and a Roth Account?
“What’s the difference between a Traditional 401(k)/IRA and a Roth 401(k)/IRA?”
At first glance, they look very similar — both are “containers” for your investments, both have annual contribution limits, and both offer tax advantages. But the big difference lies in when and how your money is taxed, and that timing can have a big impact depending on your goals and stage of life.
7 Questions You Should Ask When Interviewing a Retirement Planner
Choosing a retirement planner is one of the most important financial decisions you’ll ever make.
But not all planners offer the same services, philosophy, or level of commitment.
The best way to separate a good fit from the rest? Interview 3-5 different advisors, and ask the right questions.
Below you’ll find 7 questions you should ask any retirement or financial planner before hiring them, along with what to listen for, and how Sanders Retirement Planning approaches each area.
Ask a CFP® – Foundational Questions Edition: What’s an IRA?
Welcome back to our Account Types Series, part of the Ask a CFP® – Foundational Questions Edition, where we’re breaking down the most common types of investment accounts and how you might use each one in your retirement planning strategy.
Last week, we explored 401(k) plans — if you missed that post, you can read it here. This week, we’re turning to another widely used retirement account: the IRA. Short for Individual Retirement Arrangement (but more commonly known as an Individual Retirement Account), the IRA is often mentioned in the same breath as a 401(k). But how does it work, and what makes it different?
Ask a CFP® – Foundational Questions Edition: What’s a 401(k)?
What is a 401(k)?
How do 401(k) Contributions Work?
What Investments Can I Choose From in a 401(k)?
How is a 401(k) Taxed?
Why Would I Choose to Participate in a 401(k)?
Is My Money Stuck in a 401(k) Forever?
What Happens to my 401(k) if I Change Jobs?
When Do I Have to Distribute Funds from my 401(k)?
When Can I Retire? vs. Should I Retire?
For most people, the idea of retirement is both exciting and intimidating. Over years of financial planning conversations, we’ve noticed one question comes up more than any other:
“When can I retire?”
It’s an important question — but not always the most important one. As you approach the transition, a deeper and more meaningful question emerges:
“Should I retire?”
While both questions are essential, when you ask them, and how you use the answers, can shape your entire retirement journey.
Ask a CFP® – Foundational Questions Edition: Account Types Series
One topic that consistently comes up is: What types of investment accounts are out there—and which one is right for me?
Understanding the benefits of each one is a foundational step toward confident financial decision-making.
Ask a CFP® - Foundational Questions Edition Series: Why We’re Doing This
Lately, I’ve heard some version of the following sentence from all kinds of people, “I feel like I should know this, it seems so basic, but I’ve never understood {insert topic here}.”
Sound familiar?
You’re not alone and that’s exactly why we’re launching a new series: Ask a CFP® – Foundational Questions Edition. It’s here to break down the fundamentals of personal finance—judgment-free.