What is an IRA and what is the best way to use one?

An IRA is an individual retirement account. It is a great way to save for retirement b/c you aren't taxed on the earnings it makes. Experts generally say that you should always max out your employer's retirement plan (such as a 401K) first b/c they generally match what you put in up to a certain percentage.

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Little teacup

IRAs are extremely important

 

http://money.howstuffworks.com/52913.htm

Thissite teaches a little about it. 

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Not as bad as you think

I have one with work, I have been putting money into it for three years now and want to see if I can borrow from it.  Is it true that if I borrow from my IRA that I have to put it back within a specific amount of time?

What happens if I dont have the money to put back into it in time?

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Tumbling tumble weed