Sunday, December 26, 2010

IRA

An IRA "Individual Retirement Account" is an American retirement scheme facility, made possibly by USA law and regulations. An IRA is an investor-established and tax-deferred account set up to hold and invest funds specifically for retirement. Various jurisdictions have their own unique facilities for retirement savings. It is worth investors taking full advantage of any tax-deferral or tax benefited or even subsidized investment plans offered by governments to help people save for retirement. There are several types of IRAs: Traditional IRAs, Roth IRAs, SIMPLE IRAs and SEP IRAs (traditional and Roth are set up by individuals, whereas SEPs and SIMPLEs are established by employers).

Synonyms: IRA, Individual Retirement Arrangements, Roth, SIMPLE, SEP
 
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