What are the two major types of Individual retirement accounts?

The two major types of Individual Retirement Accounts (IRAs) are the Traditional IRA and the Roth IRA. A Traditional IRA allows individuals to make tax-deductible contributions, with taxes due upon withdrawal during retirement. In contrast, a Roth IRA involves contributions made with after-tax dollars, allowing withdrawals to be tax-free in retirement, provided certain conditions are met. Each type has different rules regarding contributions, withdrawals, and tax implications.