Individual Account
A standard account for one person.
A brokerage account gives you the flexibility to access your investments whenever you need them. Whether you’re focused on building long-term wealth or preparing for upcoming expenses, it offers the freedom to manage your money on your own terms.
A standard account for one person.
A shared account between two people or more.
You invest only the money you deposit - safer for beginners.
| Brokerage Account | Retirement Account | |
|---|---|---|
|
Purpose of Account |
Investing | Earmarked for long term growth and retirement savings |
|
Fees |
No fees to open and maintain your account | No fees to open and maintain your account |
|
Taxes |
More flexibility, based on what you sell. Must typically claim any capital gains as taxable income | Specific tax benefits, depending on the IRA you choose |
|
Contribution Limits |
No restrictions on the dollar amount you can invest | Has contribution limits, and certain eligibility requirements |
|
Withdrawal Rules |
Take money out anytime without paying any fees | Depending on IRA you choose, there are penalties if you take money out before retirement |
A brokerage account isn’t just for retirement savings—it’s a flexible tool that adapts to your goals. While many investors use it to build a nest egg for the future, you can also access your funds anytime for shorter-term plans, like buying a home, planning a wedding, or tackling a major renovation.
With a brokerage account, you can:
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