Retirement Fund

Open up an equity account with a discount broker online. Do it right now. Open up a regular account an IRA account and a Roth IRA Account. This should cost you $0. If your brokerage wants more find another one.

In a regular brokerage account you can buy and sell stocks, mutual funds, index funds, etfs and options. You use after tax dollars and you pay taxes on you profits. You can take the money out any time you want.

In an IRA account you can buy and sell stocks, mutual funds, index funds, etfs and options. You use before tax dollars (this means that when you file your taxes you deduct the amount you put in your IRA account from your income so you don’t pay taxes on it). You pay taxes on your profits but only when you withdraw the funds. You can’t take the money out until retirement age (if you do you pay a penalty.) except for an approved purpose (like buying your first home). You must start taking your money out at age 71(?).

In a Roth IRA account you can buy and sell stocks, mutual funds, index funds, etfs and options. You buy stocks with after tax dollars (it has no immediate effect on you tax returns). You don’t pay taxes on your profits. You’re restricted on when you can and must withdraw the money just like the IRA account.
Roth IRA