Retirement Glossary


Individual Retirement Arrangements (IRA)

Accounts set up at a financial institution that allow an individual to save for retirement with tax-free growth or on a tax-deferred basis. There are two types of IRAs: Roth and Traditional.


Inflation refers to a general increase in prices and a decrease in the purchasing value of money. Inflation has a greater impact once you are retired and can't adjust your savings to accommodate the rising costs.

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