An IRA (Individual Retirement Account) is a tax-advantaged account designed to help you save for retirement. You can contribute up to a set limit each year, and your savings grow either tax-deferred (Traditional IRA) or tax-free (Roth IRA), depending on the type of account. This helps you build long-term retirement savings while benefiting from tax advantages. you can learn more about the differences between traditional and Roth plans below: