Shave down your tax bill in the future by funding these two savings accounts in the present.

Employees are likely familiar with the traditional 401(k), an account that allows you to put away pretax dollars and have them grow on a tax-deferred basis.

Once you begin drawing down income in retirement, you will pay taxes on your withdrawals.

But not all retirement accounts are the same

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Save for retirement ... even without an employer 401(k)

Say hello to the Roth 401(k) and the Roth IRA — two savings accounts that allow you to put away after-tax dollars and draw down income free of taxes in retirement.

Having a combination of tax-free, tax-deferred and taxable accounts in retirement is ideal because you can adjust your retirement income and manage your taxes.

"It's a sweet deal to be able to set aside after-tax contributions," said Lazetta Rainey Braxton, certified financial planner and founder of Financial Fountains in Baltimore.

Here's what you should know.