An account set up at a financial institution that allows individuals with earned income and their spouses to save for retirement with either tax-deductible contributions, tax deferred growth,  and taxable withdrawals,   or non-deductible contributions with tax free growth and withdrawals.  IRA rules apply.


IRAs, whether traditional or Roth,  are advantaged over taxable accounts, and have been a major factor in the successful retirement of many investors.  Systematic savings to IRAs is strongly encouraged during the working years if possible.