[{"data":1,"prerenderedAt":56},["ShallowReactive",2],{"term:ira":3},{"term":4,"related":47},{"id":5,"title":6,"body":7,"category":27,"description":28,"extension":29,"faq":30,"meta":34,"navigation":35,"path":36,"related":37,"seo":40,"stem":41,"takeaways":42,"__hash__":46},"terms\u002Fterms\u002Fira.md","Individual Retirement Account (IRA)",{"type":8,"value":9,"toc":22},"minimark",[10,15,19],[11,12,14],"h2",{"id":13},"understanding-individual-retirement-account","Understanding Individual Retirement Account",[16,17,18],"p",{},"An IRA lets individuals save for retirement with tax benefits. A traditional IRA may give a tax deduction now, with withdrawals taxed later. A Roth IRA uses after-tax money, and qualified withdrawals are tax-free.",[16,20,21],{},"Annual contribution limits apply, and early withdrawals before age 59½ may face taxes and a 10% penalty.",{"title":23,"searchDepth":24,"depth":24,"links":25},"",2,[26],{"id":13,"depth":24,"text":14},"retirement","A tax-advantaged U.S. account for retirement savings.","md",[31],{"q":32,"a":33},"Can I have both a 401(k) and an IRA?","Yes. Income limits may affect whether traditional IRA contributions are deductible or whether you can contribute to a Roth IRA.",{},true,"\u002Fterms\u002Fira",[38,39],"401k","compound-interest",{"title":6,"description":28},"terms\u002Fira",[43,44,45],"An IRA is a tax-advantaged retirement account.","Traditional IRAs defer taxes; Roth IRAs offer tax-free qualified withdrawals.","Contributions are capped each year.","7IFn3z80HOddHhmJSXt_1tj5VNDwH_-Pay8H7qRzf-o",[48,52],{"title":49,"description":50,"path":51},"401(k) Plan","An employer-sponsored U.S. retirement plan funded through payroll contributions.","\u002Fterms\u002F401k",{"title":53,"description":54,"path":55},"Compound Interest","Interest earned on both the original principal and on interest already earned.","\u002Fterms\u002Fcompound-interest",1793226379198]