IRA accounts aren’t just savings accounts; they’re investment accounts. Diversify your portfolio with a mix of stocks, bonds, and other assets to align with your goals and risk tolerance.

Younger savers might lean toward growth investments, while those closer to retirement often prioritize stability.

Employer accounts like 401K's and 403b's may have a selection of investments to choose from. IRA's often have a wider variety of available investments.

So again, retirement accounts are a fantastic way to save for retirement, but they’re not one-size-fits-all. Understanding the rules, maximizing employer benefits, and tailoring your investments are key.

Start early, stay consistent, and your future self will thank you.

Disclosures:

Contributions to a traditional IRA may be tax deductible in the contribution year, with current income tax due at withdrawal. Withdrawals prior to age 59 ½ may result in a 10% IRS penalty tax in addition to current income tax. A Roth IRA offers tax deferral on any earnings in the account. Qualified withdrawals of earnings from the account are tax-free. Withdrawals of earnings prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Limitations and restrictions may apply.

There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

Gordon Haas is a Financial Planner with and offers securities and investment advisory services through LPL Enterprise (LPLE), a Registered Investment Advisor, Member FINRA/SIPC, and an affiliate of LPL Financial. LPLE and LPL Financial are not affiliated with Haas Wealth Strategies.

The opinions voiced in this podcast are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which strategies or investments may be suitable for you, consult the appropriate qualified professional prior to making a decision. Individual tax and legal matters should be discussed with your tax or legal professional.

Gordon Haas is not registered as a broker-dealer or investment advisor. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes. The purchase of certain securities may be required to effect some of the strategies. Investing involves risks including possible loss of principal.