An individual retirement account (IRA) offers a tax-advantaged way to save for retirement. Depending on what type of IRA you use, an IRA can reduce your tax bill either when you make contributions or when you take withdrawals in retirement. Investment gains are tax deferred (for a traditional IRA) or tax-free (for a Roth IRA).
Income Tax
That means contributing money towards your retirement either reduces your income taxes for the year or eliminates the taxes from your retirement money.
Tax Deferral
Formerly called an education IRA, the ESA allows families to increase investment earnings through tax-deferral as long as the funds are used for educational purposes.
A money market account is an interest-bearing account that you can open at KeySavings Bank. They are very similar to savings accounts, but they offer some checking account features as well. Note that money market accounts are different from money market mutual funds, which are not deposit accounts.
Bonds
Wealth Management
Offered vis Nest Egg (look under Wealth Management-Simplified Employee Pension (SEP) IRAs, and Savings Incentive Match Plan for Employees (SIMPLE) IRAs).
ESAs may be established at brokerages and other financial institutions. These accounts are comparable to another tax-free college savings plan, 529, with a number of differences. There is no annual limit on the amount that may be deposited into a 529 plan.