Here are 10 potential saving schemes that you may want to consider in the United States:
401(k) plans: Employer-sponsored retirement savings plans that allow you to contribute a portion of your salary on a tax-deferred basis.
Traditional individual retirement accounts (IRAs): Tax-advantaged accounts that allow you to save for retirement on your own.
Roth IRAs: Similar to traditional IRAs, but contributions are made on a post-tax basis and qualified withdrawals are tax-free.
Health Savings Accounts (HSAs): Tax-advantaged accounts that can be used to pay for qualifying medical expenses.
Flexible Spending Accounts (FSAs): Tax-advantaged accounts that allow you to set aside pre-tax dollars to pay for qualifying medical and dependent care expenses.
529 college savings plans: Tax-advantaged savings plans that can be used to pay for qualifying education expenses.
Savings bonds: Low-risk investment options issued by the U.S. government that offer a fixed rate of return.
High-yield savings accounts: Savings accounts that offer higher interest rates than traditional savings accounts.
Certificate of deposit (CD): Time deposits with a fixed term and fixed interest rate.
Money market accounts: Savings accounts that offer higher interest rates and check-writing privileges.
It’s important to keep in mind that the best saving scheme for you will depend on your individual financial situation and goals. It’s a good idea to do your research and consult with a financial advisor to determine which saving scheme is best for you.