Establish the foundational accounts you will need to succeed. Identify why you need a bank or credit union, understand the difference between Checking and Savings, work through the Rules of these accounts, and analyze your statements. Introduce Tax Advantaged Accounts, how they differe from a brokerage, what is the difference between a 401k and IRA, and WHY a Roth account is your best advantage.
Money Vehicle is built for you to see your money as a vehicle, a vessel that will hold your money. Well in this course we will establish those vessels and accounts. Beginning with the foundation in your bank accounts and understanding why you would choose a credit union over a bank or vice versa. Then we will see the benefits of different types of accounts you can get started with and begin to setup some rules you should follow when banking. As you establish these accounts, you will want to continually track what is happening within them, so reading your statements will be a piece of the puzzle. Once your foundation is set, you begin to establish investment accounts and here we will see the differences betweem a Brokerage, 401(k), and IRA. Comparing these types of accounts and what benefit comes with each, we will begin to see the power of a Roth account for you as a young profesional.
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