IRA
- Individual retirement account: a type of savings account where a person can deposit up to a set limit annually, and any gains on this amount are not subject to tax until funds are withdrawn after retirement or in certain other circumstances
- She contributed the maximum amount to her IRA every year to secure her financial future.
- After turning 65, he decided to access the funds in his IRA and use them for his post-retirement lifestyle.
- The investment advisor suggested opening an IRA to take advantage of the tax benefits.
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