Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “individual retirement account”

individual retirement account

noun [C]
 
 
( abbreviation IRA)
FINANCE in the US, a savings account in which people can put money for their pension in a way that saves them tax. Some types of individual retirement accounts are started by people on their own and some by employers for their employees: set up/contribute to an individual retirement account You can set up an individual retirement account at almost any bank, insurance company, or mutual fund. Contributions to individual retirement accounts are tax-deductible according to certain guidelines.
(Definition of individual retirement account from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of individual retirement account?
Add Cambridge dictionaries to your browser to your website

Word of the Day

bright spark

a person who is intelligent, and full of energy and enthusiasm

Word of the Day

Highly delighted, bitterly disappointed, ridiculously cheap: adverbs for emphasis.

by Liz Walter,
October 22, 2014
We often make adjectives stronger by putting an adverb in front of them. The most common ones are very and, for a stronger meaning, extremely: He was very pleased. The ship is extremely large. However, we don’t use very or extremely for adjectives that already have a strong meaning, for example fantastic,

Read More 

life tracking noun

October 20, 2014
the use of one or more devices or apps to monitor health, exercise, how time is spent, etc.

Read More