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Each financial bucket has its own advantages and capacity. Some are tax advantaged, some have enormous earning potential. Making sure you know what buckets apply to you and how you can fill them can save you a lot of money!
Roth 401(k)
Less common in the workplace but becoming more popular. Contributions are taxed, but earnings are not.Traditional 401(k)
Common for work places this bucket has contributions that are not subject to tax
Roth IRA
Available to most individuals with earned income
Spousal IRA
Commonly overlooked, but this bucket is fantastic for a stay a stay at home parent
FSA Health Limited
Often used in conjunction with another health account to maximize savings
FSA Dependent Care
Often used in conjunction with another health account to maximize savings
529
Used to pay for more than just tuition, this tax advantaged bucket is enormous.
403 B
The main retirement savings available for educators, health professionals and government employees
Emergency Fund
One of the first buckets you should consider filling.
Social Security
As potentially part of everyone's retirement, this bucket is one you have to research especially knowing when to start taking benefits
Pension - Defined Benefit
For those lucky enough to have a guaranteed benefit from their employer after they retire.
Brokerage Account
Also known as an after-tax account, this bucket has no limit
Health Savings Account (HSA)
One of the powerful buckets due to its triple tax advantageCatch-up Contributions
Employer Matching
Employer Contribution - Defined Contribution
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Life Insurance
Simple IRA
Rollover IRA
Traditional IRA
Back-door Roth IRA
457
Solo 401(k)
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