As a reminder, you should only consider opening up additional investment accounts if you already have an IRA and/or a 401(k). If you have not set them up, it's highly recommended you do so before you continue reading.
Every investment accounts are separated into categories: Personal, self-employed or business owner, and others. Pick the account(s) you'd like, open each one on M1 Finance, and then head back to the guide page you were at to finish up.
Personal:
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Flexible Spending Account (FSA):
A FSA is "a pre-tax benefit account that's used to pay for eligible medical, dental, and vision care expenses... not covered by your health care" [1].
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Self-Employed or Business Owner:
Simple Employee Pension (SEP) IRA:
A SEP IRA "provides business owners with a simplified method to contribute toward their employees’ retirement as well as their own retirement savings" [1].
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Saving Incentive Match Plan for Employees (SIMPLE) IRA:
A SIMPLE IRA plan "allows employees and employers to contribute to traditional IRAs set up for employees" for businesses with 100 or less employees [1].
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Others:
Health Savings Account (HSA):
A HSA account "lets you set aside money on a pre-tax basis to pay for qualified medical expenses" [1].
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457(b) Plan:
A 457(b) "plan is offered through your employer, and contributions are taken from your paycheck on a pre-tax basis, which lowers your taxable income" [1].
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529 College Savings Account (CSA):
A CSA (529 Plan) is "a tax-advantaged savings plan designed to encourage saving for future education costs" [1].
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Employee Stock Purchase Plan (ESPP):
An ESPP is "a program in which employees can purchase company stock at a discounted price" [1].
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The Automatic Millionaire