Traditional IRA
Also called: IRA, individual retirement account
A savings account for when you stop working, that you open on your own. You may pay less tax now, but you pay tax when you take the money out later.
Example
You put money in a Traditional IRA and pay less tax this year.
Why it matters
IRA stands for Individual Retirement Account. You can open one even if your job has no 401(k).
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Dividend
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For learning, not personal financial, tax or legal advice. Rules and limits can change each year, so check official sources (like IRS.gov or your plan's documents) or a trusted pro before big decisions.