The Roth IRA has several advantages over other retirement plans. Although money put into a Roth IRA account is taxed up front, it grows tax free. What’s more when you retire you can withdraw funds tax free.
You can make contributions up to April 15 to be considered a prior-calendar-year contribution. Another advantage is that IRA’s offer more investment options than employer sponsored retirement plans. Finally, a Roth IRA does not require mandatory minimum distributions at age 70 1/2.