A secure and happy retirement is what we aim for. We need to plan for a healthy retired life. For this, we need the IRA that stands for Individual Retirement Account. It is a significant saving vehicle for those who are planning to have a monetarily safe retirement. This account helps the individual earmark the money and use after retirement. In this article, you will get an insight into what the IRA account is, individual retirement account pros and cons and facts associated with this.