4 INVESTMENT ACCOUNTS THAT CAN ADVANCE YOUR FINANCIAL GOALS

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What kind of investment accounts do you need? There are various investment accounts, depending on your lifecycle and financial goals.

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4 Investment Accounts That Best Advance Your Financial Goals

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1. Standard Brokerage Accounts

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Cash and Margin Accounts A margin account requires an investor to have cash for liquidity. When you buy securities on margin, you borrow money from your brokerage firm to purchase securities or short selling. These strategies carry high risks.

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Individual and Joint Accounts You can open an individual or joint brokerage account. An individual account means the holder retains ownership and has responsibility for paying taxes earned.

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Self-Directed Account or Financial Advisor Longer term, investors may want access to a financial advisor. A financial advisor can help investors build an investment portfolio for their short-term and long-term financial goals and tax optimization strategies.

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Saving for retirement at an early age usually begins with employer-sponsored 401K or Roth 401K retirement account plans.

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