Financial
Retirement Account
A retirement account is a savings or investment account designed for retirement, with tax advantages. Common types: 401(k) and IRA in the US, RRSP and TFSA in Canada, superannuation in Australia. These accounts have their own beneficiary designations that override your will — keep them current.
In short
A retirement account is a tax-advantaged savings account for your future. It has its own beneficiary designation that overrides your will — so keep it current and check it regularly.
Also known as
401(k) · IRA · RRSP · TFSA (Canada) · Superannuation (Australia) · Pension
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