What is an IRA?
IRA stands for Individual Retirement Account. IRAs were created as a tax benefit for people to entice Americans to save for their own retirement. Unlike employee sponsored plans (401K, etc.) IRAs stay in place no matter where you work. When you switch jobs you may transfer your employee retirement account into your IRA.
There are two kinds of IRAs: Traditional IRAs and Roth IRAs. Learn more about TCT's IRA options.
This answer has been viewed 119514 times.
Related Questions
- Will I earn dividends on my money if I put it into a Roth IRA?
- How much can I contribute to my Roth IRA?
- Can I have both a Traditional and a Roth IRA?
- Will my Roth IRA affect the amount that I can contribute to my employer-sponsored retirement plan?
- Who can contribute to a Roth IRA?