SPDA

[ES-PEE-DEE-AY]

What is the definition of SPDA?

A tax-deferred investment vehicle similar to an Individual Retirement Account (IRA), but without many of the restrictions typically associated with IRAs.

Using SPDA in an Example

An SPDA can be an attractive option for individuals looking to save for retirement, as it allows for the tax-deferred growth of investments, meaning taxes on earnings are not paid until the funds are withdrawn.

Using SPDA in a sentence

Considering your financial goals and the need for flexibility in contributions, an SPDA might be a suitable option for your retirement savings plan.

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