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There are many types of IRAs, or individual retirement accounts, notes The Motley Fool. These include one of the most common, which are traditional or Roth IRAs through brokers, banks or mutual funds, with contributions usually invested in securities, such as money market accounts, bonds, stocks and


A Savings Incentive Match Plan for Employees, or SIMPLE, Individual Retirement Account is a tax-deferred retirement plan that small employers can set up for the benefit of their employees. These accounts are easier to administer and participate in than 401k plans.


An individual retirement account works by providing retirement savers certain tax benefits in exchange for limits on how and when they can use their savings. These benefits can include an immediate tax deduction as well as the opportunity for tax deferral.


The four most common types of Individual Retirement Accounts are known as traditional, Roth, SEP and SIMPLE, according to TIAA-CREF.org. Of these, the traditional and Roth IRAs are universally available, whereas SEP and SIMPLE are intended for business owners. Although these plans feature a number o


Fees charged to manage IRA accounts can vary, but a fee-only adviser should only charge 1 to 1.5 percent of the total account, explains Charles Sizemore for Investor Place. In addition, an IRA adviser who sells commissionable products such as certain mutual funds should not charge any fees at all.


To open an IRA, research financial institutions, and select one with an acceptable fee structure and IRA program. Choose your ideal IRA type, such as a traditional IRA or Roth IRA. Open an account, make your first contribution, and then select an investment route.


In the term SIMPLE IRA, SIMPLE is an acronym for Savings Investment Match Plan For Employees and is used to describe a type of retirement plan designed for businesses with 100 or fewer employees, notes Investopedia. The plans are considered simple because they involve minimal paperwork by administra


IRA stands for Individual Retirement Account, which is a savings account with large tax breaks, according to CNN Money. There are different types of IRAs such as ROTH IRAs, SEP IRAs, SIMPLE IRAs and traditional IRAs with each having different restrictions and caps on contributions.


An Education IRA, also known as the Coverdell ESA, is a savings plan for higher education. Unlike custodial accounts, where the money may be used for anything once the child is of age, the funds in an Education IRA may only be used for continuing education.


A Roth IRA is a type of investment savings account that lets an investor invest money for retirement without paying taxes on the money after funding the account, notes CNN Money. Investors fund their Roth IRAs with after-tax pay, meaning that they pay taxes on the money prior to putting it into the