With the tax filing deadline of April 18 a few weeks away, investors still have some time to make contributions to their individual retirement accounts (IRAs). While some prefer traditional IRAs, many others favor Roth IRAs; both retirement products provide amazing tax benefits.

Contributions to traditional IRAs can be deducted from taxable income, but you'll owe taxes when you withdraw the money in retirement. With Roth IRAs, there is no upfront deduction, but withdrawals can be made tax-free.

IRAs allow investors to buy individual stocks, bonds, ETFs, or mutual funds. ETFs are becoming increasingly popular since they are excellent tools for building a diversified retirement portfolio at a low cost. Furthermore, income-paying ETFs are better suited for an IRA since income is deferred or sheltered from taxes.

The Schwab U.S. Dividend Equity ETF (SCHD Quick QuoteSCHD - Free Report) focuses on the quality and sustainability of dividends. It invests in high dividend stocks with fundamental strength, like Broadcom (AVGO Quick QuoteAVGO - Free Report) and Texas Instruments (TXN Quick QuoteTXN - Free Report) .

The iShares Select Dividend ETF (DVY Quick QuoteDVY - Free Report) holds high dividend paying companies with at least 5-year history of paying dividends. Valero Energy (VLO Quick QuoteVLO - Free Report) and Exxon Mobil (XOM Quick QuoteXOM - Free Report) are among the top holdings.

The SPDR S&P Dividend ETF (SDY Quick QuoteSDY - Free Report) looks for high dividend-paying companies that have consistently increased their dividend for at least 20 consecutive years. V.F. Corporation (VFC Quick QuoteVFC - Free Report) and Walgreens Boots Alliance (WBA Quick QuoteWBA - Free Report) are its top holdings currently.

To learn more, please watch the short video above.