Episode #452

If you’re new to personal finance, investment accounts can seem complicated. The terms, the lingo—HSA, Roth, IRA, 401(k)—these may seem like letters in an arbitrary order, but using these retirement and investment accounts can help you reach financial freedom faster, pay WAY less in taxes, and maximize your money even while you’re asleep. So, how do you get started? Tune in; we’ll show you how!

Joining us is early-retired CFP (Certified Financial Planner) Kyle Mast to walk through each retirement, investment, and savings account you MUST have on your road to FIRE. In today’s episode, we’ll touch on the common accounts you’ve heard of, like the 401(k) and IRA, as well as some lesser-known investing and savings accounts that can help your money grow faster than you thought possible.

And whether you’re just starting your retirement journey in your 40s, 50s, or 60s, or you’re a twinkly-eyed twenty-something-year-old ready for compound interest to run its course, you’ll get EVERYTHING you need to know about investing and retirement accounts from this episode.

Show Notes at:
https://www.biggerpockets.com/blog/money-452?utm_source=youtube&utm_medium=description&utm_campaign=none
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Past Shows Mentioned in This Episode:
Jamila Souffrant: https://www.biggerpockets.com/blog/biggerpockets-money-podcast-39-from-bad-with-money-to-intentional-saving-and-spending-with-jamila-souffrant?utm_source=youtube&utm_medium=description&utm_campaign=none
The Millionaire Educator: https://www.biggerpockets.com/blog/biggerpockets-money-podcast-124-millionaire-educator?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Kyle:
Twitter/X: @whoiskylemast or https://twitter.com/whoiskylemast
Website: https://www.kylemast.com/
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Connect with Scott and Mindy on BiggerPockets:
Scott: https://www.biggerpockets.com/users/scotttrench?utm_source=youtube&utm_medium=description&utm_campaign=none
Mindy: https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none


00:00 Intro

00:56 Money Moment

01:42 401(k)s

14:37 Traditional IRAs

21:37 Roth IRAs and Roth 401(k)s

27:51 HSA (Health Savings Accounts)

31:22 High-Yield Savings Accounts (HYSA)

35:37 After-Tax Brokerage Accounts