There are such things as good and bad retirement accounts, but which is which often depends on your personal situation. Take traditional and Roth IRAs, for example. They’re similar in a lot of ways, but one of them is probably going to offer you better tax advantages than the other. Here’s a closer look at some of the key differences between the two accounts so you can decide which one deserves your money.

1. When you pay taxes on your money

The biggest difference between traditional and Roth IRAs is that traditional IRAs use pre-tax dollars, while Roth IRAs use after-tax dollars. That means traditional IRA contributions reduce your taxable income for the year, while you owe taxes on your Roth IRA contributions. …

There’s little question that one of the surest paths to wealth generation is investing in quality companies and holding them over the long term. If you have any doubts, consider this: Since its inception in the mid-1920s through 2019, the S&P 500 (originally just 90 stocks) has returned roughly 10% annually. Since expanding to 500 stocks in the mid-1950s, the index has returned roughly 8%.

This means that time is on the side of investors, and the sooner you get started, the better your chances are of retiring with a seven-figure nest egg.

Another way investors can increase their chances of building a life-changing portfolio is by investing in smaller companies with a disruptive, game-changing product. Let’s look at three companies that meet this criteria and see what else they have in common. …

Berkshire Hathaway (NYSE:BRK-A) (NYSE:BRK-B) CEO Warren Buffett has produced a handful of jaw-dropping numbers over the years. For example, the Oracle of Omaha, as he’s come to be known, has led Berkshire Hathaway stock to a 20.3% annual average return over the past 55 years. In aggregate, this works out to a gain of 2,744,062%. Put another way, $100 invested in 1965 into Berkshire Hathaway stock would have been worth over $2.7 million by Dec. 31, 2019.

But this isn’t the most surprising Buffett statistic of all. Though Warren Buffett and his team do invest in dozens of companies, Berkshire remains concentrated in only a few key names. As of the closing bell on Oct. …

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