4 Investment Accounts That Can Advance Your Financial Goals
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1. Standard Brokerage Accounts
To open a brokerage account, you must be at least 18 years of age and have a social security number or tax ID.
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Cash and Margin Accounts
Typically, most brokerage accounts are cash accounts, but some investors want to open a margin account.
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Individual and Joint Accounts
You can open an individual or joint brokerage account.
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Traditional 401K Plan
Saving for retirement at an early age usually begins with employer-sponsored 401K or Roth 401K retirement account plans.
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The IRS imposes eligibility requirements based on compensation limits on retirement plans (e.g., 401K and IRA) subject to annual cost-of-living adjustments.
Eligibility
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