Individual Retirement Account (IRA)

 

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Individual Retirement Account (IRA)

A retirement account that may be established by an employed person. IRA contributions are tax deductible according to certain guidelines, and the gains in the account are tax-deferred.



Individual Retirement Account (IRA)

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IRA (individual Retirement Account)

IRA (individual Retirement Account)

Savings programs available to individuals. The plans allow for a certain amount to be deposited each year. This money is not subject to income tax for that year or following years as long as it is not withdrawn. The money is taxed as withdrawn upon retirement, usually when the depositor is in a lower tax bracket. During the life of the account, the money may be put into various interest bearing investments. Securities dealers as well as banking institutions now offer IRA'S.


Further Suggestions

Individual Turnover Report
individual retirement account
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lifelong individual savings account
American Association of Individual Investors


 
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