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7 Must-Have Accounts to Achieve Financial Independence

The article from MSN Money outlines seven essential financial accounts that individuals should consider to achieve financial independence. These include: 1) Emergency Fund - to cover unexpected expenses without derailing financial plans; 2) Checking Account - for daily transactions and easy access to funds; 3) Savings Account - for short-term goals and to earn some interest; 4) Retirement Accounts like 401(k) or IRA for long-term savings with tax advantages; 5) Health Savings Account (HSA) - for those with high-deductible health plans, offering tax benefits for medical expenses; 6) Taxable Investment Account - for investments outside of retirement accounts, providing liquidity and flexibility; and 7) Education Savings Account such as a 529 plan for future educational expenses. Each account serves a specific purpose in building a robust financial strategy, ensuring liquidity, growth, and protection against unforeseen circumstances.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/investment/7-must-have-accounts-to-achieve-financial-independence/ar-AA1ycCuv ]