401(k), Roth, Traditional, Brokerage... Which Account Is Right for Me?

Charis Ellis, Director of Financial Planning at Murphy Financial Group, returns to the podcast to talk with Kyle about the array of investment accounts or financial "buckets" available for retirement and which ones are right for you. There are many vehicles available to save for retirement nowadays, but they all have different tax implications both now and in the future. One of the common mistakes people make is thinking about taxes as only a current year issue -- how do I pay the least amount of taxes this year? -- instead of looking at the taxes they will pay over their lifetime. Kyle and Charis break down the accounts you need to understand and illustrate the "middle way" between the most optimal way to plan for taxes and the way that best suits your unique psychology and life goals. Connect with Kyle Email: kyle@murphyfingroup.com Web: https://www.murphyfingroup.com LinkedIn: https://www.linkedin.com/in/kyle-martin-cfp®-aams®-05033352 Securities and advisory services offered through Commonwealth Financial Network, Member www.FINRA.org/www.SIPC.com, a Registered Investment Adviser. Fixed insurance products and services are separate from and not offered through Commonwealth. The financial advisor(s) associated with this material may only discuss or transact business with residents of states in which they are properly registered. Please check FINRA's BrokerCheck for a list of current registrations. No offers may be made or accepted from any resident outside these states due to various state requirements and registration requirements regarding investment products and services. The information discussed on this program is for educational and informational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. All investments involve risk, including the loss or principal. No strategy can assure a profit, protect against loss in declining markets, or guarantee that any objective or goal will be achieved. Please contact your financial professional for more information specific to your situation. Murphy Financial Group 310 S Hale Street Wheaton, IL 60187 (630) 523-0410 Review our Terms of Use: www.commonwealth.com/termsofuse.html Past performance is no guarantee of future results. Murphy Financial Group does not provide legal or tax advice.