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5) Retirement Planning
IRA basics
An IRA is a retirement bucket you open yourself at a broker like Fidelity or Schwab. It is not connected to your employer. If your company doesn't have a 401(k), or if you already got the full match and have extra money, put it in an IRA. In 2026, the limit is $7,500 per year. Unlike a 401(k), where the company chooses the investments, an IRA lets you buy any stock or index fund you want.
An IRA is a retirement bucket you open yourself at a broker like Fidelity or Schwab. It is not connected to your employer.
- If your company doesn't have a 401(k), or if you already got the full match and have extra money, put it in an IRA.
- In 2026, the limit is $7,500 per year.
- Unlike a 401(k), where the company chooses the investments, an IRA lets you buy any stock or index fund you want.
Free Resource: IRA Explained In Less Than 5 Minutes | Simply Explained
[FINANCIAL ADVISOR Explains: Retirement Plans for Beginners (401k, IRA, Roth 401k/IRA, 403b) 2024](https://www.youtube.com/watch?v=pZNnueqfj_A)
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