What is an IRA Account?
IRA stands for Investment Retirement Account that you can use to save money for your retirement.
IRA are saving account like a 401k investment that you use from your saving to invest in the stock market to get gain capital on your money.
They are tax free until you cashed out after the age of 59 and half. If your take your money out before the requirement age. You will be penalize by 10% for the early withdraw.
The risk with an IRA account for the long term is that the percent of tax may be higher when withdrawing money. The opportunities may be that it also can be lower, but that depends on the interest rate set during the period of time set.
Some of the option you look to open investment account for an IRA account is:
• TD Ameritrade
• Charles Schwab
You should always do your own independent research before decided which companies you want to open IRA account. They are others firm that also provide IRA accounts in the market.
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