INDIVIDUAL RETIREMENT ACCOUNT - IRA
Investing instrument used by individuals to save and earn money for retirement, the tax-advantaged way. There are different types of IRAs: Traditional, Roth, SIMPLE, and SEP.
Both Traditional and Roth IRAs are created by individual taxpayers who are permitted to pay off 100% of compensation up to the fixed maximum dollar amount. Traditional IRA can be tax deductible if the individual meet the following conditions: individual’s income, tax filing status, and coverage on the employer-sponsored retirement plan. Roth IRA contributions are tax-free.
SEP and SIMPLEs are retirement plans made by employers. Individual participant contributions are paid to SEP IRAs and SIMPLE IRAs.
Also called individual retirement arrangements.
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ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 06:30 | Tertiary Industry Index | Apr | |
| 08:00 | Wholesale Price Index | May | |
| 08:30 | Producer & Import Prices | May | |
| 09:00 | SECO Consumer Confidence | May | |
| 10:00 | Trade Balance | Apr | |
| 11:00 | Current Account (sa) | Apr | |
| 11:00 | Industrial Production | Apr | |
| 14:15 | Housing Starts | May | |
| 14:30 | NY Fed Empire State manufacturing index | Jun |
