PersonalFinanceLab: Individual Retirement Account (IRA)

Learn how Individual Retirement Accounts (IRAs) can help you save for retirement and reduce your tax liability. In this animated lesson, we'll explore the benefits and rules of traditional IRAs, including how to contribute, invest, and withdraw your funds. What You Will Learn: • The benefits of traditional IRAs for retirement savings. • How to contribute to an IRA and the tax implications. • The rules for investing and withdrawing IRA funds. • The importance of meeting the 60-year-old withdrawal requirement. • The penalties for early withdrawal.