Why Smart People Have Retirement Accounts
Though an alarming number of working Americans have yet to start saving for retirement, those who do realize the importance of establishing a nest egg are certainly on the right track. Since the average American can't live off Social Security alone in retirement, it's critical that we all do our part to save independently.
Now when it comes to saving for the future, you have several options. You could stick your money in a savings account, a traditional brokerage account, or a dedicated retirement account, like an IRA or 401(k). And while some people might go with one of the former options, here's why you'll come out ahead for choosing the latter.
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Source: Fool.com
