• Which Investment Vehicle is Right for You?

    by Jennifer Scheck Associate Financial Planner | July 18, 2023

    Show Notes:

    Determining which investment vehicles to use to save for short- and long-term purchases and retirement goals can be confusing. Associate Financial Planner Jennifer Scheck covers four types of accounts: non-qualified accounts, Traditional IRAs, Roth IRAs, and Employer Sponsored 401(k) plans on today’s Finance Moment Podcast.

    Several factors impact which kind of account you may choose including your income level, account contribution limits, and tax implications or benefits.

    Non-qualified accounts

    Non-qualified accounts include checking and savings accounts, as well as investment accounts. Non-qualified accounts are funded with after-tax dollars and are helpful savings vehicles for short- and long-term goals. These accounts have no contribution limits or income restrictions.

    Retirement savings accounts

    For retirement savings, traditional IRAs, Roth IRAs, and Employer Sponsored 401(k) Plans offer tax benefits for funds intended for long-term investing and growth.

    To learn more about these accounts, listen to the whole podcast episode and read the blog article “Test-Driving Investment Vehicles – Roth IRAs, Traditional IRAs, 401(k) Plans and Non-Qualified Accounts” on our website.

    Jennifer Scheck Associate Financial Planner
    Jennifer Scheck is an Associate Financial Planner at Syverson Strege. She holds a master's degree in math education from the University of Kansas and had a career as a high school math teacher and college adjunct professor. Seeking to redirect her math talent to a business environment, Jennifer broadened her finance experience at Principal Financial Group where she was a financial analyst in Retirement Income Solutions. In 2019, she joined Syverson Strege to merge her passions for both education and financial planning to serve clients and support the financial planners at Syverson Strege. Jennifer is currently seeking her CFP® designation to further her education and achieve her professional goals.

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