If you suspect your taxes will be higher when you retire a Roth IRA may be a good option for your retirement savings. The money you contribute to a Roth IRA toay has already been taxed, so when you retire and start withdrawing, the money – and any potential growth in the account – may be tax free.

Once you pay for the privilege by paying the tax upfront, all the earnings build income-tax-free. So when you hit retirement age, you won’t have to pay taxes on withdrawals. That can give your savings a powerful boost, especially if your tax rate is higher in retirement.

Traditional IRAs force you to pull out money beginning at age 72. Not so with a Roth.

Unlike most retirement accounts, it’s easy to withdraw your Roth contributions — not your earnings, mind you — without penalty, at any time.