The benefit of opening an IRA while you're young is the compounding of the money invested tax-free over your working lifetime.

Name: The benefit of opening an IRA while you're young is the compounding of the money invested tax-free over your working lifetime.
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This statement is true. Opening an IRA (Individual Retirement Account) at a young age allows your money to grow and compound tax-free over your working lifetime, potentially resulting in a larger retirement nest egg.

The Benefit of Opening an IRA While You're Young Is