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This information is for educational purposes only and is not intended as tax advice. Please consult your tax advisor for more detailed information or for advice regarding your individual situation.
Any of these investments can be held within an Individual Retirement Account (IRA) or a non-retirement (taxable) account. An IRA is a special kind of account that’s specifically designed for retirement savings and is subject to special rules. For instance, you can get some tax advantages from an IRA but you can’t take money out of it early without penalties. A non-retirement account may be more flexible, especially for teens, who may have shorter-term goals.