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An education IRA is a tax-advantaged savings account used to pay for children's' educational expenses. They are formally known as Coverdell Education Savings Accounts. Educational IRAs are similar to 529 savings plans but with some key differences.

Traditional IRAs allow individuals to contribute pre-tax dollars to a retirement account where investments grow tax-deferred until withdrawal during retirement. Upon retirement, withdrawals are taxed at the IRA owner's current income tax rate.

A Roth IRA is a special retirement account where you pay taxes on money going into your account, and then all future withdrawals are tax-free. You can't contribute to a Roth IRA if you make too much money.

 A SEP IRA is a retirement plan that an employer or self-employed individual can establish. The employer is allowed a tax deduction for contributions made to the SEP plan and makes contributions to each eligible employee's SEP IRA on a discretionary basis.

A SIMPLE IRA is the small-company version of a 401(k) plan that is subject to many of the same rules as traditional IRAs. This workplace retirement savings account allows eligible employees to invest a portion of their pretax salary into an individual account and receive mandatory employer contributions.

A Rollover IRA is an account that allows you to move funds from your old employer-sponsored retirement plan into an IRA. With an IRA rollover, you can preserve the tax-deferred status of your retirement assets, without paying current taxes or early withdrawal penalties at the time of transfer.

An inherited IRA, also known as a beneficiary IRA, is an account that is opened when an individual inherits an IRA or employer-sponsored retirement plan after the original owner dies. Additional contributions may not be made to an inherited IRA. Rules vary for spousal and non-spousal beneficiaries of inherited IRAs

Consolidating your retirement assets into a Rollover IRA can help you manage these assets carefully and efficiently over the long term.

Rule 72 allows penalty-free withdrawals from IRA accounts and other tax-advantaged retirement accounts like 401 and 403(b) plans. It is issued by the Internal Revenue Service The IRS still subjects the withdrawals to account holder's normal income tax rate

A brokerage account is an arrangement where an investor deposits money with a licensed brokerage firm, who places trades on behalf of the customer. Although the brokerage executes the orders, the assets belong to the investors, who typically must claim as taxable income any capital gains incurred from the account

On a nonretirement account, designating a beneficiary or beneficiaries establishes a transfer on death registration for the account. For an individual account, a TOD registration generally allows ownership of the account to be transferred to the designated beneficiary upon your death.