What is a brokerage account, and how is it different from a retirement account? In this episode, Deanne Rosso and Clarke Holt walk through what a brokerage account can hold, how it works, and why taxes matter.Not sure what type of account is right for you? Visit elevate-wealth.com and click Let’s Talk.

🔗 Website: https://elevate-wealth.com

🔗 Facebook: / elevatewealthadvisory

🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips!

#BrokerageAccount #Investing #PersonalFinance #WealthAdvising #ElevateWealthAdvisory

What is a brokerage account and what can you do with it? We'll talk about that today on Elevate Wealth. Welcome everybody. I'm Deanne Rosso with Elevate Wealth Advisory. I'm joined again today by Clarke Holt. Welcome Clarke. Glad to be here. Glad that you joined me today. So Clarke, in plain English, what do we mean when we say brokerage account? Good question. So, it's an investment account. It's what I sometimes call a non-retirement account. Sometimes are referred to as after tax accounts or tax advantaged, but basically you can invest in anything that you can in a retirement account. Same investment, stocks, bonds, ETFs, mutual funds, things like that, but the money that goes into that account has already been taxed. And so that's the main difference, and that's kind of what a brokerage account is that we hear about a lot. So, what's the biggest difference between a brokerage account and what we would term a retirement account? Biggest difference is taxes. And so everything that goes on within that account each calendar year...activity...could be interest, it could be capital gains, could be dividends, it's taxed as you go. So you kind of...it's kind of a pay as you go account. Okay. But it has some great benefits on the on the back end, as well. You can also do tax loss harvesting with brokerage accounts. Unlike retirement accounts. Yeah. Okay. So tax advantages, or just tax rules to pay attention to. Exactly. when it comes to the differences between brokerage accounts and retirement accounts. Yeah. And we think it's important to have accounts, you know, in all three of what we call our tax buckets, and the brokerage account being one of those. And so, thank you for joining me today, Clarke, and for that insight, because I think it's really important to understand the different types of retirement accounts. And if you have questions about the different types of accounts, investment accounts, retirement accounts, and what might be right for you, we are here to help. Visit us at elevate-wealth.com and click let's talk. Thanks for watching. We'll see you next time.