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This may sound stupid to those who already know about IRA's, but, I cannot find a good basic explanation of an IRA that satisfies by basic questions. Is an IRA a savings account or an investment account of some kind? There are very breif disucssions of IRAs in the Motley Fool books that make them sound like investments of some kind. However, I have seen other explanations that simply make them look like savings accounts that are tax deffered! Where can I get some basic idea of what an IRA is all about? If I open an IRA at my bank and then find a better deal (i.e. one that let's me pick investments) can I change it, or am I stuck? Pleae Help!!! :-)

I'd really appreciate any help anyone can give me.


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