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A type of IRA that allows you to make after-tax contributions (so you don't get an immediate tax deduction) and then withdraw money in retirement tax-free as long as you meet the requirements.

The yearly, monthly, or weekly amounts you save in your account.

Contributions you can subtract from your income on your tax return, resulting in a lower tax bill.

Money you can take out of your account without owing any federal income tax, even if some of it has never been taxed.

A mutual fund intended for retirement savers that automatically rebalances and adjusts its asset mix as investors get closer to retirement. For example, a 20-year-old might invest in a target-date fund for people planning to retire around 2060. Target-date funds are professionally managed and typically diversified across asset classes and market segments.

Usually refers to investment risk, which is a measure of how likely it is that you could lose money in an investment. However, there are other types of risk when it comes to investing.

The profit you get from investing money. Over time, this profit is based mainly on the amount of risk associated with the investment. So, for example, less-risky investments like certificates of deposit (CDs) or savings accounts generally earn a low rate of return, and higher-risk investments like stocks generally earn a higher rate of return.

A type of investment that pools shareholder money and invests it in a variety of securities. Each investor owns shares of the fund and can buy or sell these shares at any time. Mutual funds are typically more diversified, low-cost, and convenient than investing in individual securities, and they're professionally managed.

A type of account created by the IRS that offers tax benefits when you use it to save for retirement.

Accounts that don't receive special tax treatment, so all interest, dividends, and capital gains are subject to taxation in the year they're received.

A type of investment with characteristics of both mutual funds and individual stocks. ETFs are professionally managed and typically diversified, like mutual funds, but they can be bought and sold at any point during the trading day using straightforward or sophisticated strategies.

Purchase fees are charged generally by funds that routinely face higher transaction costs when buying securities for the portfolio.

Redemption fees are charged generally by funds that want to discourage market-timing.

Neither is considered a sales charge or "load" because both are paid directly to the fund to offset higher transaction costs.

There are currently just 5 Vanguard funds (each with multiple share classes) that charge one or both of these fees. Each has a corresponding exchange-traded fund (ETF) share class that excludes these fees and can be bought and sold in your Vanguard Brokerage Account commission-free.