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But thats a mistake.
Forty arrives sooner than you think and the time to start preparing is now.
Hereswhat you gotta know.
The best high-yield savings accounts are often found at online banks.
Many employers match your contribution.
Chen recommended contributing only up to the company match.
Here are some rules to remember.
Retirement Account
Another retirement savings option is an individual retirement account, or IRA.
Chen specifically recommended a Roth IRA so you could get the tax advantages at 59 1/2.
Brokerage Account
In this context, IBA refers to an individual brokerage account.
Chen recommended this option if you want to continue to invest and not haveearly withdrawal penalties.
Numerous options are available, including full-service brokerage accounts, managed accounts and online accounts.
A 529 is acollege savings accountdesigned to make it more affordable to fund future education expenses.
There are two kinds of 529 plans: prepaid tuition plans and college savings plans.
Chen recommended an HSA because it lets you pay for qualified medical expenses and get triple tax advantages.
