Key Points Regular brokerage accounts don't give you tax breaks like IRAs and 401(k)s do. What they do give you is more flexibility with your money. You can take withdrawals as early as you want without penalty, and you don't have to worry about RMDs. The $23,760 Social Security bonus most retirees completely overlook › I'm a firm believer in taking advantage of any tax break the IRS will give you. And for this reason, I'm a fan of saving for retirement in an IRA or 401(k). With a traditional I ...

A certificate of deposit (CD) can be a valuable tool for diligent savers. CDs allow you to earn higher interest rates than you would with a traditional savings account, and your returns are guaranteed with a fixed rate throughout your CD’s term. The catch is that you can’t touch your money until your CD matures (that is, without incurring penalties). While CD earnings can be considerable, there are tax implications to keep in mind. The IRS treats CD interest earnings as taxable income, which you must pay ...

Certificates of deposit (CDs) are a popular type of deposit account for savers looking to protect their money from market risk and inflation. CDs allow you to deposit money at a fixed interest rate for a specific period and often come with higher rates than many savings accounts. CDs are considered low-risk because the interest rate is fixed for the entire term, and the principal balance can’t lose money — in most cases. That said, CDs can lose money in certain rare situations. So before you put your money ...