A teen with a part-time job can contribute to a Roth IRA, which is a flexible way to accumulate funds for college, retirement, and other long-term needs.
Muni bonds and tax-exempt funds have long been a mainstay in the portfolios of income-focused investors who want to manage their tax burdens.
How much do you need to save each year to meet your long-term financial goals?
Will you be able to afford nursing home care?
How much life insurance would you need to produce a sufficient income stream for your family?
Calculate the rate of return you would have to receive from a taxable investment to realize an equivalent tax-exempt yield.