There's no denying that retirement accounts are one of the most effective ways to save and invest for retirement. They provide unique benefits, offer tax breaks, and have restrictions and penalties in place to deter people from dipping into the account before retirement.

In an ideal world, everyone could max out all their available retirement accounts. Unfortunately, this is unfeasible for most people, given the contribution limits on different retirement accounts. That said, if there is one retirement account to prioritize maxing out in 2024, it's a Roth IRA.

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Source Fool.com