Question

What is the purpose of tax-deferred retirement accounts?

Answer 1

to encourage consumers to invest money before it is taxed

Step-by-step explanation:

Answer 2

Retirement accounts is an account set up at a financial institution that allows an individual to save for retirement with tax-free growth or on a tax-deferred basis. Tax-deferred savings plans may defer taxable income earned within the account either until withdrawal or until a particular date.