Business and Personal Finance Dictionary

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• IRA
  
  Individual Retirement Account. A retirement account with tax advantages. Individuals may contribute money annually to an IRA based on how much they've earned (such as wages) or up to IRS-established limits, some of which are age- and income related. Contribution and withdrawal rules also are based on the type of IRA: traditional (either deductible or non-deductible) or Roth.
  
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