Investing in 2022 is more important than ever, with the potential of a global economic slowdown. If you haven't put money into an individual retirement account for 2022, the benefits of investing in tax-sheltered accounts are startlingly large.
A brokerage account is a type of investment account through which you can buy, sell and trade many different types of investments. Common types of investments include stocks, bonds, ETFs, and real estate. Retirement and brokerage accounts are common places to get started.
UNest is a new type of investment account that is specifically designed for parents who want to save money for their children. The accounts, similar to UNest's offering for existing parents, are created by parent investors who want to save for their children's future. Opening a UNest Investment Account for Kids requires no paperwork and is free for up to $25,000 in contributions.
First Credit and Investment Bank recently announced the transmission of their quarterly accounts for the period ending December 31st, 2022. On March 1st, 2023, the bank transmitted their quarterly accounts to the public, along with an accompanying statement from their executive chairman.
When it comes to managing your money, saving and investing are critical to building wealth but play different roles in your money management system. A savings account is typically a low-risk, low-return investment option, while investing allows you to take risk and potentially earn higher returns.
Recently, the Securities and Exchange Commission (SEC) has been taking an active role in protecting investors. This time, they're coming for your brokerage account. Late last year, SEC Chair Gary Gensler rolled out a set of far-reaching, experimental regulations that are intended to improve investor protection.
Taxable accounts also allow retirement investors to keep investments longer without having to make withdrawals, whereas the IRS imposes required minimum distributions on traditional retirement accounts once you reach a certain age. Taxable accounts also allow you to access your funds more quickly than retirement accounts, making them a useful tool for short-term savings goals.
Overall, you should have money in each of three types of investment accounts: Fully taxable accounts like a brokerage account are funded with after-tax money and offer the most flexibility, while retirement accounts such as an IRA or 401(k) provide tax advantages. Lastly, tax-advantaged accounts like 529 plans are specifically designed to help you save for college.
