Irvine financial planner advisor
Skip to content

Create Investment Accounts for Each of Your Goals

Create Investment Accounts for Each of Your Goals

The First Step to Investment Success

If you’ve created your goals, this step should be easy. You’re just going to create separate investment accounts for each of your goals.

There are dozens of account types to choose from.

  • For most of your goals, you will want a plain vanilla taxable account or, if you have done any estate planning and have a living trust, make sure you open trust accounts for your goals. If you haven’t created a living trust (or don’t even know what one is), don’t worry about this now—just open a regular individual account.
  • For your retirement goals, you will probably want to open IRA or Roth IRA accounts in addition to regular taxable accounts.
  • If you are saving for college tuition, definitely consider a 529 Plan. Money you put in these accounts grow tax-free if the money is used for college education. Since each state has its own 529 Plan with its own rules and regulations, make sure you do your own research or get help choosing the 520 Plan that’s right for you.

If you aren’t sure what kind of account to open for each of your goals, just call your brokerage firm and they should be able to help you.

The proceeding blog post is an excerpt from The Six-Day Financial Makeover: Transform Your Financial Life in Less Than a Week!, available now on Amazon.


About the Independent Financial Advisor

Robert Pagliarini, PhD, CFP®, EA has helped clients across the United States manage, grow, and preserve their wealth for the past 25 years. His goal is to provide comprehensive financial, investment, and tax advice in a way that was honest and ethical. In addition, he is a CFP® Board Ambassador, one of only 50 in the country, and a real fiduciary. In his spare time, he writes personal finance books, finance articles for Forbes and develops email and video financial courses to help educate others. With decades of experience as a financial advisor, the media often calls on him for his expertise. Contact Robert today to learn more about his financial planning services.

Reach us at (949) 305-0500