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.
Purchasing a fixed annuity shifts the risk for future investment returns to the insurance company and could help create a pension-like income stream for retirement.
How much will it cost to pay off a loan over its lifetime?
How much do you need to save each year to meet your long-term financial goals?
Use this calculator to estimate how much income and savings you may need in retirement.