 TITLE: What Is a Roth IRA, and Is It Right for Me? CONTENT: What Are the Benefits of a Roth IRA?\n------------------------------------\nThere's a reason why you may have heard that it's a good idea to save in a Roth IRA. These accounts have many special benefits that make them a worthwhile retirement savings option. Here are the top advantages of a Roth IRA:\n*   **Post-tax contributions:** In a Roth IRA, you pay tax on contributions the year you save in the account. That means you can't deduct contributions from your tax return, but when you withdraw the funds, that money won't be taxable as income—as long as your Roth IRA has been open for at least five years.\n*   **Useful for younger earners:** Roth IRAs can be especially beneficial to people just starting in their careers, when their incomes—and income tax rates—are lower than they may be later on.\n*   **Account can be opened on behalf of a spouse or child:** There is no minimum eligibility age for a Roth IRA owner, so contributions made while your child is young can grow tremendously over a lifetime. To qualify, the child must have earned income, such as wages and tips from part-time jobs. The child may have to file taxes each year Roth IRA contributions are made for them.\n*   **Account can have multiple beneficiaries:** A Roth IRA also can be used to pass wealth to heirs, as you can name multiple beneficiaries to your account. Beneficiaries must take required minimum distributions from the account after your death, but younger beneficiaries can take smaller distributions over a longer time period—allowing funds in the account to continue tax-advantaged growth. END