An IRA, or Individual Retirement Account, is a tax-advantaged account that allows you to set aside money for retirement as long as you have earned income. Even children with earned income from a job can contribute to an IRA.   Like other retirement accounts, IRAs come in two main flavors: Traditional IRAs and Roth IRAs. While they share similarities, the tax treatment and long-term planning implications are very different, especially for high-income earners like physicians.  

Step 0: If you don't have IRA accounts at Vanguard, open a Vanguard Traditional IRA Account and a Vanguard Roth IRA account. Step 1: Contribute to Vanguard Traditional IRA Account. From the dashboard, clikc on your traditional IRA account. Select "Contribute to IRA" and then choose the account to fund your traditional IRA. This can be from an outside bank (checking) account or your Vanguard brokerage account if you have one. If you choose an outside bank account, your money w

If you want to build wealth, investing is essential. Simply saving money isn’t enough—your money needs to work for you. If your money...

How Much Should You Save for Retirement? Saving for retirement can feel confusing because different sources give different advice. Some...

Each year, the IRS announces adjustments to tax brackets and contribution amounts to tax advantaged accounts to keep up with inflation....

When a person says “I just want to be happy,” often they are really thinking “I want to be happy all of the time, or at least, most of...

Arrival fallacy is the illusion that once we obtain our goal or reach our destination, we will finally be happy. The term arrival fallacy...