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An "IRA" is an Individual Retirement Account, a type of savings account designated by the Federal Government as a means of saving for retirement.
Anyone that has earned income (sweat-of-the-brow income) can contribute to his or her IRA or to an IRA for his or her spouse.
Fixed and variable rate individual retirement plans are available.
The current types of IRA at IRA include Traditional, Roth, and Coverdell Educational Savings Account. These funds may be invested in either the IRA Accumulator Investment or the IRA Investment Certificate. The total of all IRA investments in the same name is one IRA account. Maximum deposit amounts and withdrawal requirements cover an individual's total IRA investments in all financial institutions.
Health Savings Accounts are emerging as a preferred option for saving for health care costs. They operate much like an IRA in that it is pre-tax money that helps members pay for services not covered in their health plans.
Benefits of HSA Accounts:
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