Traditional IRA
A Traditional IRA account is used to increase an individual's retirement fund. The IRA will eventually be used to supplement a pension and/or Social Security. It may also offer tax relief, depending on the individual’s income. Dividends earned are not taxed until withdrawal.

Roth IRA
Roth IRA contributions are always made with after-tax dollars. The reward is that you'll pay no taxes on qualified distributions from the Roth IRA - Including all of your earnings.

Coverdell Educational Savings Account
A Coverdell Education Savings Account is not a retirement arrangement. It's a trust or custodial account created only for the purpose of paying higher education expenses of the beneficiary of the account