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Other financial discussions

If you want to save for retirement stay away from savings accounts. I do like the 6-12 months expenses in a high yield savings account that’s good advice.

A lot of this depends on how old you are. If you’re just starting in your early 20’s get the apps like digit, this will help you save for different things but the money doesn’t yield any interest really. The app called Betterment let’s you open IRA accounts and you can set up automatic contributions. You can also decide which how your money is allocated depending on your risk profile, if you’re young you want to be more risky because you have a long time until retirement. If you’re older maybe less risky. But the key is to be consistent and keep up never stop contributing to your future.

Definitely if you have an employer that has a 401k use it! And if they have a match max it out and go beyond it just to help it grow. If you have access to an HSA account that is a really great way to help save for your health care needs now and for the future and you can use that when you retire. 401k’s and HSA’s through your employer are great because that money is tax free which means you’re keeping MORE of YOUR money. I did the math in my pre-tax contributions and found out I get to keep like $250 more each paycheck that would have gone to taxes by putting it into a 401k and HSA.