What Is an IRA?

An individual retirement account (IRA) allows you to save

money for retirement in a tax-advantaged way.
An IRA is an account set up at a financial institution that allows an
individual to save for retirement with tax-free growth or on a tax-deferred
basis. There are three main types of IRAsTraditional, Roth, and Rollover
each with different advantages.

In a Traditional IRA, you make contributions with money you may be

able to deduct on your tax return and any earnings can potentially grow
tax-deferred until you withdraw them in retirement. 1 Many retirees also
find themselves in a lower tax bracket than they were in pre-retirement,
so the tax-deferral means the money may be taxed at a lower rate.

With a Roth IRA, you make contributions with money youve already
paid taxes on (after-tax) and your money may potentially grow tax-free,
with tax-free withdrawals in retirement, provided that certain conditions
are met.2

A Rollover IRA is a Traditional IRA intended for money "rolled over"

from a qualified retirement plan. Rollovers involve moving eligible assets
from an employer-sponsored plan, such as a 401(k) or 403(b), into an
IRA.

http://www.rothira.com/how-convert-to-a-roth-ira
What is ROTH IRA
http://www.rothira.com/what-is-a-Roth-IRA

Roth IRA
With a Roth IRA, you make contributions with money on which
you've already paid taxes. Your money can then potentially
grow tax-free, with tax-free withdrawals in retirement, provided
that certain conditions are met.1
https://www.fidelity.com/open-account/roth-ira
https://www.fidelity.com/retirement-ira/rollover-checklist
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http://www.shrm.org/hrdisciplines/benefits/articles/pages/2015-irs-401k-contributionlimits.aspx#sthash.3PpYEzjI.dpuf.
https://www.irs.gov/Retirement-Plans/COLA-Increases-for-Dollar-Limitations-onBenefits-and-Contributions
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https://www.quora.com/What-is-an-IRA-and-how-does-it-work
https://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-TopicsIRA-Contribution-Limits
https://www.dailyworth.com/posts/272-ira-vs-401k-what-s-the-difference