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Best Investing Accounts - The White Coat Investor - Basics


The best accounts to invest in are generally those with the lowest fees and taxes as those are an investor's greatest enemies. A typical doctor may have access to some or all of the following tax-protected accounts: Retirement: 401(k), 403(b), 457(b), 401(a), Profit-sharing plan, Defined Benefit/Cash Balance Plan, Individual 401(k), SEP-IRA, SIMPLE-IRA, traditional IRA Roth 401(k), Roth 403(b), Roth 457(b), Roth IRA Taxable (i.e. non-qualified) account Education: 529 Coverdell Education Savings Account Taxable account Healthcare: Health Savings Account Taxable account General Investing: Taxable investing account An employee ought to become an expert in the accounts his employer offers. The self-employed physician will generally want to use an individual 401(k). Most doctors will want to use a Backdoor Roth IRA. Those who are using a High Deductible Health Plan should take advantage of a Health Savings Account, a triple tax-free Stealth IRA. 529s are generally superior to an ESA due to their higher contribution limits and potential state tax breaks. If you have maxed out your available accounts and wish to invest more, you can invest an unlimited amount in a taxable account, which despite its name generally offers superior risk/return characteristics to many financial products such as cash value life insurance and annuities. The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs for specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor channel is for you! Main Website: YouTube: Student Loan Advice: Facebook: Twitter: Instagram: Subreddit: Online Courses: Newsletter: 00:00 Best Accounts To Invest In 00:11 Retirement Accounts 00:36 Education Accounts 00:44 Health Care Accounts...(read more)



LEARN MORE ABOUT: IRA Accounts
CONVERTING IRA TO GOLD: Gold IRA Account
CONVERTING IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
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