Hi everyone I'm Laura Adams. Thanks for downloading the Money Girl

podcast. This is the second episode in a two-part series about six different retirement plans

created for individuals, employees, and businesses. Back in part one, I covered the first three accounts, so make sure to go back and check out that

podcast, which is episode number 310.

Today, we'll discuss the remaining three plans that make it easy to set aside money for retirement and slash your tax bill.

Before we cover the final three retirement accounts, here's a brief review of the first three types that I already covered in part one.

Type one is the traditional IRA.

This is a plan for individuals only.

Contributions to the account are never taxed

until you take withdrawals during retirement.

Type 2 is the Roth IRA. This is also a plan that's only for individuals.

Its major difference from a traditional IRA is that contributions are taxed up front.

However, withdrawals of contributions and earnings during retirement are tax-free.

For 2013, you can contribute a total of $5,500 to a Roth IRA, a traditional IRA, or to a combination of both.

Type number three is called a 401k plan.

This is a pre-tax plan for individuals.

However, it can only be established by an employer.

Just like with a traditional IRA,

your contributions and earnings are never taxed until you take withdrawals during retirement.

Now some employers may also offer a Roth 401k option

where you make after-tax contributions that grow completely tax-free.

For 2013, your total... contributions that grow completely tax-free.

...