individual retirement accounts
An IRA is a savings account that may allow you to defer paying taxes on the deposits until the funds are withdrawn upon retirement. Certain contributions are tax deductible in the tax year in which they are made.
A Roth IRA allows you to deposit funds into the account after they've been taxed. All interest earned on a Roth IRA is tax-free upon withdrawal if certain requirements are met.
An Education IRA allows you to deposit taxed funds into the account, up to the annual limit. All interest earned is tax-free upon withdrawal if the withdrawals are used for qualified education expenses.