To make the process easier — and more lucrative — many Americans open individual retirement accounts, better known as IRAs. But the key question is, “What is an IRA?” An IRA is a type of financial ...

Good to know: If you're opening an IRA account for the first time, the process typically takes just 15 minutes and requires basic information, such as your name and bank account number.

An IRA, or individual retirement account ... such as by mailing a check, drafting from your bank account, and making a wire transfer. You can also typically set up a recurring contribution ...

Once set up, you'll fund the account using bank payments, checks, or an IRA rollover if you have a different retirement ...