The triple-tax-advantaged account: pre-tax contributions, tax-free growth, tax-free qualified withdrawals. FIRE folks treat it as a stealth retirement account.
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Related terms
A tax-advantaged account for education expenses. Contributions grow tax-free; qualified withdrawals are tax-free. Unused funds can now be rolled to a Roth IRA (up to $35K lifetime).
IRS rule letting you tap pre-tax retirement accounts before 59½ without the 10% penalty — provided you take "substantially equal periodic payments" for 5 years or until age 59½, whichever is longer.
Employer-sponsored retirement account. Contributions are pre-tax (traditional) or post-tax (Roth). Look for employer match — that's free money.
Mandatory annual withdrawals from most pre-tax retirement accounts starting at age 73. Roth IRAs (owner's) are exempt. Miss one and the penalty is brutal.
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