
Traditional IRA
A Traditional IRA allows you to contribute income before it’s taxed and enjoy tax-deferred earnings until retirement. This type of account may make sense if you anticipate paying taxes at a significantly lower rate in retirement.

ROTH IRA
A Roth IRA allows you to contribute income after taxes and enjoy tax-free earnings until retirement. Roth IRA’s are more flexible because you do not have to take mandatory distributions at age 70½, and you can withdraw contributions at any time, tax-free and penalty-free after the account has been open 5 years.

Coverdell Education
Savings Account
A Coverdell Education Savings Account allows you to save for your child’s’ higher education. They were created to pay for your child’s education expenses, such as tuition, fees, books, supplies, equipment, and, in some cases room and board, and computers. Unlike state 529 plans, Coverdell ESAs can be used to pay for qualified elementary and secondary education expenses.