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Individual Retirement Account (IRA)
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Individual Retirement Account (IRA)


The company matches her contributions to her IRA.
  a retirement savings account into which the saver can invest money with tax advantages
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retirement accounts Individual Retirement Account
Notes:
Frequently abbreviated as "IRA" though that acronym has another common meanings as well.

Some employers match investments in an IRA — which is generally recognized as a good investment for the employee.

There are many kinds of IRAs and many restrictions on available tax benefits. Generally a limited amount of invested income can be deducted from current taxes though tax (possibly at a higher rate) will need to paid when money is withdrawn from the account. A type of IRA identified as a Roth IRA reverses the tax benefit. Taxes are paid on the money invested, but there is no tax on that investment or its earnings upon withdrawal.
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Samples:
  • The company matches her contributions to her IRA.
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Associated words [difficulty]:   Individual Retirement Account (IRA) [3] , mutual fund [8] , bond [4] , financial commodities [5] , stock [7] , mutual fund [8] , hedge fund [9] , municipal bond [9]
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Most commonly used in these subjects:   Personal Finance, Public Policy & Politics, Law
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