IRAs (Individual Retirement Accounts)

Finance Factors

Traditional IRA
A retirement account that features tax deductible contributions and tax-deferred savings for retirement (some restrictions apply).
 
Roth IRA
A retirement account that features after-tax contributions and tax-free earnings and distributions at retirement. Ideal for those who do not qualify for deductible contributions to a Traditional IRA account.
 
Coverdell Education Savings Account
A non-deductible account that features tax-free withdrawals for a child’s education expenses. Earnings grow tax-deferred. Funds may be withdrawn tax-free if used for qualified education expenses.