I know this is a different question, but I don't want to clutter the forum.
What difference, if any, is there between a taxable retirement account and a general savings account? When setting up a new account I'm asked "Why are you investing?" I can select Retirement, General Savings, or College. If I select Retirement, I'm asked if I want a Roth IRA or Traditional IRA; if I click "Show more account types >>" then I'm shown SEP-IRA, Taxable account, and Variable annuity. Now, I need to research what a variable annuity is (heard of it, but haven't really looked into it), but am I wrong in thinking that a taxable retirement account and a general savings account is the exact same thing? If I am wrong...what's the difference?
Already have a Roth IRA with Vanguard, trying to get a brokerage account for taxable investments.