In a previous post, I addressed the benefits and features of a Roth IRA Account.
There are a couple of benefits to saving money in a Roth Account. Some of the benefits include the following.
The money is contributed after taxes and grows tax-free and can grow for as long as you (the owner) are alive.
There are no RMDs (Required Minimum Distributions). RMDs are typically required so IRS can get its share of taxes. In this case, since there are no taxes to be paid, this is a moot point.
But keep in mind that once the account passes to your beneficiaries at death, even though it passes tax-free, the inherited IRA rules kick in and they will be required to withdraw all the money from the account within 10 years of your death.
You can take the money out tax-free. Keep in mind that the Roth IRA account needs to have been in existence for at least 5 years to be able to get the money out tax-free.