Show 66 - What retirement vehicle should I invest in to meet my goals?
In this episode, I talk about choosing the right investment vehicle for your retirement goals.
1/1/20251 min read
Just like a road trip, you want the right vehicle to get you to the right destination in investing. There are so many vehicles, IRA, 403b, HSA, 457b, etc. that it is hard to know the right choice. But the thing is, the right choice depends on your goals. In this episode I break down the various vehicles and how they will help you achieve different goals.
Show Notes
Dividend investing episode with Kanwal
Recommended Books (Amazon Affiliate Links)
Key Ideas
All vehicles are on a continuum of flexibility to protection. The more flexible an investment vehicle is, the less protected it is from taxes.
If you want to retire early, you’ll need to opt for the more flexible options and forgo those tax protections.
If you want a traditional retirement of at least 59 ½ then the more rigid, but better protected options are ideal.
There is no one size fits all in investing. Choose the right vehicle for where you are working and the goals you have.
Bonus Tip
Here is a bonus tip I didn't get to in the episode.
Since the 403b is such a dangerous investment vehicle, I usually recommend you avoid it. One to avoid the 403b and get the maximum benefits from retirement investing is to have your own business. If you build a side business you are allowed to invest in a 401k through that business, and since you’re the business owner you get to make the decisions about what brokerage to invest with. But even better, you are able to give yourself an “employer match”. So if you’re trying to super charge your retirement savings, consider building a side business.