Individual Retirement Account (IRA)
Individual Retirement Accounts (IRAs) provide tax advantages for retirement savings. You can contribute each year up to the maximum amount allowed by the Internal Revenue Service. There are several types of IRAs available - traditional IRAs, Roth IRAs, SEP IRAs, and SIMPLE IRAs.
Concept at a glance
Definition and explanation
Individual Retirement Accounts (IRAs) provide tax advantages for retirement savings. You can contribute each year up to the maximum amount allowed by the Internal Revenue Service. There are several types of IRAs available - traditional IRAs, Roth IRAs, SEP IRAs, and SIMPLE IRAs. [1]
Source-supported connections
Frequently asked questions
What does Individual Retirement Account (IRA) mean in the cited reference?
Individual Retirement Accounts (IRAs) provide tax advantages for retirement savings. You can contribute each year up to the maximum amount allowed by the Internal Revenue Service. There are several types of IRAs available - traditional IRAs, Roth IRAs, SEP IRAs, and SIMPLE IRAs. [1]
Individual Retirement Account (IRA) connection map
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Links retain their source-specific meaning. Award-time affiliations and links to related reading are not claims about current appointments or economic causation.
Sources and review dates
Reviewed 23 October 2026. Historical dates and award-time affiliations retain their original context. A review date is not an event date. Background sources are identified separately from official records.