Here are the three most common IRA types:
Traditional IRA: Lets individuals direct their pre-tax income toward investments that won’t be taxed until withdrawal.
Roth IRA: With this IRA type, you pay taxes on money going into your investment account, so that you can have tax-free withdrawals in retirement.
Rollover IRA: This account that allows you to move eligible assets from your old employer-sponsored retirement plan such as a 401(k) or 403(b) into an IRA.