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What is an IRA?

The simplest way to explain an IRA would be to say that it is a retirement account that provides tax advantages. IRA stands for Individual Retirement Account. A lot of people may view an IRA as an investment but this isn’t really correct; it would be better to say that an Individual Retirement Account is a basket where you can hold your investments. This type of account covers a wide range of possibilities and the one you will choose will very much depend on your exact needs.

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