what does ira stand for
An Individual Retirement Arrangement (IRA) provides a tax-advantaged way to save for retirement. Contributions to IRAs may be tax-deductible, grow tax-deferred and can be used to provide retirement income or an estate for your heirs, depending on the type of IRA.Other People Are Reading.ontributions to IRAs may be tax-deductible, grow tax-deferred and can be used to provide retirement income or an estate for your heirs, depending on the type of IRA. Other People Are Reading.