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  1. www.investopedia.com › terms › iIndividual Retirement Account (IRA): What It Is, 4 Types

    Mar 21, 2024 · An IRA is a tax-advantaged savings account for retirement that anyone with earned income can open. Learn about the four types of IRAs, their eligibility, contribution limits, and tax benefits.

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  3. investor.vanguard.com › investor-resourcesWhat is an IRA? Here's what you need to know | Vanguard

    What is an IRA? An IRA (individual retirement account) is a personal, tax-deferred account the IRS created to give investors an easy way to save for retirement.

  4. investor.com › retirement › what-is-a-retirement-accountWhat Is a Retirement Account? - investor.com

    Jun 28, 2024 · June 28, 2024. A retirement account has special features that make it easier to grow your savings for the future. And by “special features,” we mean tax benefits. The main thing that differentiates retirement accounts from other types of savings and investment accounts is taxes.

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  6. www.nerdwallet.com › learn-about-ira-accountsWhat Is an IRA? Definition, 5 Types - NerdWallet

    • Traditional IRA. Contributions to traditional IRAs are often tax-deductible. For example, contributing $3,000 to a traditional IRA could reduce the amount of your taxable income by $3,000.
    • Roth IRA. Contributions to Roth IRAs aren't tax-deductible, but regular contribution (excluding Roth conversions) can be withdrawn penalty and tax-free at any time.
    • SEP IRA. Generally, SEP IRAs are IRAs for self-employed people or small-business owners with few or no employees. Similar to traditional IRAs, the contributions are tax-deductible.
    • SIMPLE IRA. SIMPLE IRAs (Savings Incentive Match Plan for Employees Individual Retirement Accounts) are for small businesses with fewer than 100 employees.

  7. www.forbes.com › ira-individual-retirement-accountWhat Is An IRA? How Does It Work? – Forbes Advisor

    Mar 22, 2024 · An IRA is a tax-advantaged retirement savings account that anyone who earns income can contribute to. Learn about the differences between traditional and Roth IRAs, the contribution limits and rules, and how to withdraw from your IRA.

  8. www.schwab.com › learn › storyWhat's an IRA and How Does it Work? | Charles Schwab

    Dec 19, 2023 · Individual retirement accounts (IRAs) are personal retirement savings plans that offer tax benefits and a range of investment options. Many investors use IRAs as a source of saving for retirement.

  9. www.fool.com › retirement › plansWhat is an Individual Retirement Account (IRA)? | The Motley Fool

    Jan 30, 2024 · What is an IRA? IRA stands for individual retirement account. There are several different types, but each one allows you to make tax-advantaged contributions from income you earn to build a...

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