What is a IRA account?

Question

Would it grow more money if you put money into it and leave it alone?

How much money can it grow?

Answer 1

An Individual Retirement Account (or IRA) is a retirement plan account that provides some tax advantages for retirement savings.

The two principal types of IRA:

Roth IRA - contributions are made with after-tax assets, all transactions within the IRA have no tax impact, and withdrawals are usually tax-free.



Traditional IRA - contributions are often tax-deductible (often simplified as "money is deposited before tax" or "contributions are made with pre-tax assets"), all transactions and earnings within the IRA have no tax impact, and withdrawals at retirement are taxed as income (except for those portions of the withdrawal corresponding to contributions that were not deducted).  

Answer 2

Individual Retirement Account. Generally it's an account that allows you to put money away for when you retire, tax deferred. Depending how you invest it, how the market is, etc.... that's how much it can grow. there's no answer to that.

Answer 3

http://www.flixya.com/blog/GOLDCash360

Answer 4

Independent Retirement Account

Yes it can.

Depends on how much you contribute and for how long.