FYI: An IRA is a type of savings vehicle that offers people tax breaks for investing money for retirement. There are several types of IRAs available and each has its own different benefits and eligibility requirements.
As of the end of 2016, there were over 42 million IRA accounts in the United States, equal to over $7.9 trillion in total assets. Individuals that are looking to save for their retirement should consider researching the different types of IRA plans to determine which is the most beneficial for their retirement goals.
For the purpose of this article, small business IRAs like the SEP, SIMPLE and SARSEP will be excluded.
Regards,
Ted
http://mutualfunds.com/education/introduction-to-iras/
