The basic definition
What is an IRA?
An IRA (individual retirement account) is a personal, tax-deferred account the IRS created to give investors an easy way to save for retirement.
What it does
It provides an excellent opportunity for your retirement money to grow and compound faster than it would in a taxable account.
What you can do
You can open an IRA on your own through almost any bank, brokerage company, insurance firm, or investment company.
And you can save your way for your retirement through the wide variety of investment choices that an IRA offers.
For example, at Vanguard, you can choose from our broad range of low-cost mutual funds and exchange-traded funds (ETFs), as well as individual stocks and bonds and funds from other companies.