An Individual Retirement Account is a form of retirement plan, provided by many financial institutions, that provides tax advantages for retirement savings in the United States as described in IRS Publication 590, Individual Retirement Arrangement (IRAs). The term IRA encompasses an individual retirement account; a trust or custodial account set up for the exclusive benefit of taxpayers or their beneficiaries; and an individual retirement annuity, by which the taxpayers purchase an annuity contract or an endowment contract from a life insurance company.
Read more about Individual Retirement Account: Types, Funding, Valid Investments, Distribution of Funds, Bankruptcy Status, Protection From Creditors, Borrowing, Double Taxation, Statistics, Similar Policies in Other Countries
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“I have no faith in our hypocritical, false, hysterical, uneducated and lazy intelligentsia when they suffer and complain: their oppression comes from within. I believe in individual people. I see salvation in discrete individuals, intellectuals and peasants, strewn hither and yon throughout Russia. They have the strength, although there are few of them.”
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