A Roth IRA is an individual retirement account that offers tax-free growth and tax-free withdrawals in retirement.
A 401(k) is a employer-sponsored retirement account that offers tax breaks on your contributions and any earnings grow tax-deferred.
A Health Savings Account is a special type of account that allows you to set aside money for medical expenses, including health insurance premiums.
NO.
Giving to charity can be a great way to lower your taxes in retirement. You can deduct your charitable donations on your taxes, and you will not have to pay taxes on any income that the charity receives.
Municipal bonds are bonds issued by state and local governments. The interest from these bonds is usually exempt from federal taxes, and it may also be exempt from state and local taxes.
If you are still working, you can delay withdrawals from your 401(k) until you retire. This will allow your money to continue to grow tax-deferred.
NO.