Glossary

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Non-deductible IRA

A non-deductible IRA is not a type of retirement account. Instead, it refers to non-deductible contributions made to a traditional retirement account. This retirement savings strategy is for those whose income exceeds the limits to make deductible IRA contributions or to contribute to a Roth IRA.

4

4
4
4
4

A

A
A

B

B

C

C
C

D

D
D

E

E
E

F

F
F
F
F

G

G

H

H

I

I
I
I

L

L

M

M
M
M
M

N

N

P

P
P

R

R
R
R
R

S

S
S
S
S
S

T

T
T
T
T

V

V

W

W

4

4
4
4
4

Recent Terms

SEP IRA
A SEP IRA — short for simplified employee pension plan — is a tax-advantaged retirement plan designed for business owners. While it can be used by businesses of any size, it’s often used by small business owners and self-employed individuals.
High earner, not yet rich (HENRY)
HENRY is an acronym for "high earner, not yet rich." It is used to describe someone who earns a high income, usually between $100,000 to $500,000, but has not saved or invested enough to be considered rich. HENRYs typically spend a large portion of their earnings on expenses and purchases.
Non-deductible IRA
A non-deductible IRA is not a type of retirement account. Instead, it refers to non-deductible contributions made to a traditional retirement account. This retirement savings strategy is for those whose income exceeds the limits to make deductible IRA contributions or to contribute to a Roth IRA.