Which of the following is a common type of retirement account?

The selection of 401(k), IRA, and Roth IRA as a common type of retirement account is correct because these accounts are specifically designed to help individuals save and invest for retirement, offering various tax advantages that make them particularly attractive.

A 401(k) plan is established by an employer, allowing employees to save a portion of their paycheck before taxes are deducted, which can significantly lower their taxable income. Additionally, employers often match contributions, providing another incentive to contribute.

An IRA, or Individual Retirement Account, is initiated by individuals to save for retirement independently of their employer. There are tax-deductible options that may reduce current taxable income, as well as tax-deferred growth possibilities until withdrawal.

The Roth IRA is distinct in that contributions are made with after-tax dollars, allowing for tax-free withdrawals in retirement, which can be particularly beneficial if an individual expects to be in a higher tax bracket in the future.

The other options listed do not represent typical retirement savings plans. Profit-sharing plans and HSAs (Health Savings Accounts) serve different financial purposes, while checking and savings accounts are basic bank accounts for day-to-day transactions rather than retirement savings. Mutual funds and stock options are investment vehicles but are not specifically structured as retirement accounts like the