Individual Retirement Account is one of the great options for saving money for your retirement, which is beneficial in taxes. What if you can save your money that is untouchable by the taxes and give you the opportunity to live a life of financial freedom that you always wanted. One can easily do it by opening an Individual Retirement Account (IRA). Creating a great retirement plan is being an essential motive for investors. And such investments require inflation-beating returns so that individuals can sustain for a long time through that investment plan. In this article, we are going to guide you thoroughly on how IRAs work and how you can open such an account for the betterment of your future.