That’s right, it’s a retirement account.
If you’re in your 20’s or 30’s, the word “retirement” seems so farfetched.
You’re probably wondering what the point is of putting your hard-earned money into an account that you’re told you can’t even touch right now until you’re in your 60's.
There’s benefits.
One is compound interest, where your money has the opportunity to multiply and grow over time compared to it just sitting in a bank account.