Brokerage accounts are taxable investment accounts that you can use to build up your short- or long-term savings. You deposit cash into the account (either directly or by linking it to an Advantage Checking account) and can then use money in the account to purchase a wide range of different investments.
The tax-deferral advantages offered by 401(k) and 403(b) plans, as well as IRAs, make them an ideal vehicle for retirement savings. As such, you’ll want to maximize your available contributions to those accounts first. Once you have contributed as much as you can to tax-deferred accounts, you may also want to use a taxable brokerage account to put additional money away for long-term goals. While your balance won’t grow as quickly because of taxes on any earnings and dividends, taxable accounts offer a few important benefits worth considering:
It’s quick and easy to do. Just call our STIS Client Advisory Center at 877.962.9032 to get started. You can choose to invest on your own, or as your assets grow get help from a SunTrust Investment Services advisor in selecting the most appropriate mix of investments for your individual needs.
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Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.
SunTrust personnel are not permitted to give legal or tax advice.
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Calculating annual required minimum distributions (RMDs) can be complex and mistakes can be exceedingly costly, so it’s important to consider an optimal withdrawal strategy.
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