The term IRA Variety refers to the different types of Individual Retirement Accounts (IRAs) available. The most common type is the Roth IRA, which is a four-letter acronym. A Roth IRA is an individual retirement account that allows individuals to save for retirement with after-tax dollars and then withdraw their contributions and earnings tax-free. Contributions to a Roth IRA are not tax-deductible, but the money grows tax-free and withdrawals are tax-free in retirement.