The IRA vs. 401(k). You’ve heard of these retirement accounts before, but do you know the difference between the two? Maybe you have a 401(k) at work and have been diligently getting your employer match but struggle to describe what you’re investing in. You’ve heard top financial experts talk about how a Roth IRA is crucial for saving on taxes long-term, but are you eligible to invest in one? Today, we’re discussing top retirement accounts and how to start investing with just $100.CFP (Certified Financial Planner) Kyle Mast joins Mindy on today’s show to answer common questions about 401(k)s, IRAs, Roth IRAs, and HSAs! We’ll first describe when you should invest in a 401(k) vs. an IRA, why their Roth equivalents are so valuable, especially if you’re itching to save on taxes in retirement, and the best account for beginners that (most) Americans will get free money from.What happens after you leave a job and your 401(k) remains? Kyle discusses the options to ensure your money stays invested, even after leaving an employer. We’ll also get into the triple-tax benefit HSA (health savings account) that you should take advantage of IF you qualify, which accounts to invest in first, and what to do once you’ve maxed out your retirement accounts!In This Episode We Cover401(k)s vs. IRAs and which to invest in first (especially if you’re employed!)Roth IRAs and 401(k)s explained and when to choose a Roth over a traditional accountThe best retirement account for beginners and how to get free money for retirementHow to take control of a 401(k) after leaving an employerHealth Savings Accounts (HSAs) and who qualifies for these extremely tax-benefited accountsWhich accounts to invest in first when maximizing retirement savingsHow we would start investing for retirement if we only had $100/month extraAnd So Much More!Links from the ShowBiggerPockets Money Facebook GroupNetwork with Other Investors on The Path to FIRE Through the BiggerPockets ForumsFinance Review Guest OnboardingJoin BiggerPockets for FREEMindy on BiggerPocketsScott on BiggerPocketsListen to All Your Favorite BiggerPockets Podcasts in One PlaceApply to Be a Guest on The Money ShowPodcast Talent Search!Find an Investor-Friendly Agent in Your AreaFind Investor-Friendly LendersBiggerPockets Money GroupBuy Scott’s Book “Set for Life”See Mindy and Scott at BPCON2024 in Cancun! BiggerPockets Money - Episode 549: Is FIRE Dead? No, But Here’s Why Most WON’T Achieve ItSee Mindy at BPCON2024 in Cancun!Traditional 401(k) vs. Roth IRA: Which One Wins?00:00 Intro02:17 401(k)s vs. IRAs05:07 Roth IRAs and 401(k)s11:21 Best Account for Beginners 14:31 401(k)s After Ending Employment 19:58 Health Savings Accounts (HSA)26:46 How to Invest $10032:00 Connect with Kyle!Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-558Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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