BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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You would like to start saving money for retirement. What type of account can you open with your bank or credit union?
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IRA
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Certificate of Deposit
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Money Market
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Savings
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Explanation:
Detailed explanation-1: -IRA (individual retirement account) A type of account created by the IRS that offers tax benefits when you use it to save for retirement.
Detailed explanation-2: -An individual retirement account (IRA) is a tax-advantaged investment account designed to help you save toward retirement. IRAs are one of the most effective ways to save and invest for the future.
Detailed explanation-3: -Almost any type of investment is permissible inside an IRA, including stocks, bonds, mutual funds, annuities, unit investment trusts (UITs), exchange-traded funds (ETFs), and even real estate.
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