11 Best Investment Account Types for Young Investors [2022]

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1. Brokerage Accounts

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2. Money Market Fund (Cash Equivalents)

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In brief, these act as company-sponsored accounts provided by some employers. They work by having you designate a percentage of your income (from each paycheck) to contribute throughout the year.

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4. 403(b) & 457 Plans

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5a. Traditional Individual Retirement Account (IRA)

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Swipe Up!

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11 Best Investment Account Types for Young Investors [2022]

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When choosing from the best types of investment accounts for young investors to open, you should consider when and how you plan to use the money (education, retirement, etc.) and whether they are qualifying or non-qualifying investments.

1. Brokerage Accounts

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2. Money Market Fund (Cash Equivalents)

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In brief, these act as company-sponsored accounts provided by some employers. They work by having you designate a percentage of your income (from each paycheck) to contribute throughout the year.

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3. 401(k)

4. 403(b) & 457 Plans

A 403(b) plan is the equivalent of a 401(k) for people who work at non-profit, tax-exempt businesses. For government employees, 457 plans are their versions of 401(k)s.

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5a. Traditional Individual Retirement Account (IRA)

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