Brokerage Account
Also called: taxable brokerage account, investment account, trading account
A brokerage account holds investments and, unlike a retirement account, has no contribution limits, no age restrictions and no tax shelter. That flexibility is the whole point: money is available at any time, which makes it the right home for goals between the emergency fund and retirement. Assets are held in the broker's name for you, and in the US are protected against broker failure — not market losses — by SIPC coverage up to defined limits.