individual retirement account
Personal savings vehicle
An individual retirement account is a tax-advantaged savings account for retirement, commonly known by its initials IRA.
Contributions may be tax-deductible, and earnings grow tax-deferred until withdrawal.
Traditional IRAs tax withdrawals as income; Roth IRAs use after-tax contributions but allow tax-free withdrawals.
She maxed out her individual retirement account contributions this year.
- tax shelterLegal income-shielding arrangement
- pension planRetirement savings arrangement
- IRATax-advantaged retirement fund
- Roth IRATax-advantaged retirement account
- rolloverVehicle flipping accident
savings · nest egg · rainy day fund · golden years · contribution limits · beneficiary · annuities · contributions · early withdrawal · tax-deferred · mutual funds · investment · compound interest · penalty · earnings · financial planning · financial advisor · deduction
individual retirement accountpension
Retiree's ongoing benefit
company pension · Social Security · 401(k) · public pension · government pension
individual retirement accountconsumer debt
Money owed by individuals
credit card debt · discretionary spending · living paycheck to paycheck · checking account
individual retirement accountchecking account
Bank deposit for transactions
savings account · brokerage account · money market account · certificate of deposit · current account
individual, individually, individuality, individualism, individualist, individualistic, individualize, individualized, individuals