Planning for retirement in 2025 is easier with the right account. This guide explores the best retirement accounts for beginners, including IRAs and 401(k)s, to secure your financial future.
Why Start a Retirement Account?
A retirement account helps you save and invest for the long term, often with tax benefits. In 2025, new plans offer flexibility for beginners with limited funds.
Types of Retirement Accounts
- Traditional IRA: Tax-deferred savings, ideal for steady growth.
- Roth IRA: Tax-free withdrawals, great for young investors.
- 401(k): Employer-sponsored with matching contributions.
Top 5 Retirement Accounts for 2025
| Provider | Account Type | Minimum Investment | Fees |
|---|---|---|---|
| Vanguard | Roth IRA | $0 | 0.03% |
| Fidelity | Traditional IRA | $0 | 0.0% |
| Charles Schwab | Roth IRA | $0 | 0.25% |
| TIAA | 401(k) | $0 | 0.35% |
| Betterment | Robo-Advisor IRA | $10 | 0.25% |
How to Choose the Right Account
Consider your income, tax situation, and retirement goals. Roth IRAs are ideal for beginners. Learn how to start investing with $100.
Frequently Asked Questions
What’s the best retirement account for beginners?
Roth IRAs are beginner-friendly due to low fees and tax-free growth.
How much should I save for retirement?
Aim to save 15% of your income annually.
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