Tax-free retirement strategies include contributing to a Roth IRA, using a health savings account (HSA), buying municipal bonds, capitalizing on long-term capital gains rates, having a permanent life insurance policy, using annuities, and considering the tax implications of your Social Security benefits. Another tax-free option for saving for retirement is a Roth 401 (k). Here's a comparison of the pros and cons of some retirement plans. An accrued IRA also allows you to convert the type of retirement account, from a traditional IRA or 401 (k) to a Roth IRA.

An accrued IRA is created when you move a retirement account, such as a 401 (k) or an IRA, to a new IRA.