Which retirement account is best?

It is a fair question, but it can lead people in the wrong direction if the account label becomes the focus. Of the many different types of accounts available, some are considered retirement accounts, such as IRAs and 401(k)s, while others are not retirement accounts at all. Taxable brokerage accounts, Health Savings Accounts, and 529 plans are a few examples.

So, which one is best for the next dollar you invest?

Before deciding which type of account to use, it is important to understand that one of the primary considerations among these accounts is how they are taxed.