Many Gen Zers want to retire early. If this is one of your ambitions, a taxable brokerage is the most flexible account to have to support yourself before your retirement savings become accessible.
A taxable brokerage can also help grow your money for financial goals that are more than 10 years out - a big vacation, a car, a new roof or home renovation. Just remember to move that money into less-risky investments, like bonds, as the date for those goals approaches.
For "a more near-term goal, within five years, they'll probably have a majority [invested] in fixed-income or bonds," as much as 80%, Devin Watts, a financial planner at Fallbrook FI, told MarketWatch. He noted that some investments, such as T-bills, are generally less risky than funds that mimic the broad bond market, "so there's even a risk spectrum" among low-risk investments that people should consider.
Priority 6: Save for your children
If you have children, saving for them comes after meeting your own retirement and other savings goals.
