3. Saving
b. Compare savings options (continued)
We've put together a few quick Pros and Cons for each of these common savings options.
This chart compares different types of savings accounts based on income limits, use of funds, contribution limits and tax treatment. It’s important to do your homework when looking for an investment option for your family.
*The earnings portion of a non-qualified withdrawal is subject to federal income taxes and any applicable state income taxes, as well as an additional 10% federal penalty tax. The availability of tax or other benefits may be contingent on meeting other requirements.
**Restrictions apply. See Program Disclosure Statement for details.
This chart compares different types of savings accounts based on income limits, use of funds, contribution limits and tax treatment. It’s important to do your homework when looking for an investment option for your family. Please consult your
certified financial planner for more information.