Why Should I Set Up A Roth IRA? 
The Roth IRA is a retirement savings vehicle . Choosing a Roth IRA over a traditional IRA gives you several clear advantages : 1 -RRB- Your Roth IRA grows tax free . 2 -RRB- During your retirement years you draw tax free income from your Roth IRA account . 3 -RRB- Because you 've already paid taxes on your Roth IRA , it hedges against the possibility of having a tax rate increase , thus causing more taxes to be taken out of your Roth IRA income stream during retirement . Remember , you will most likely have less write-offs when you retire . In retirement , you will have no dependents and could have your mortgage paid off . 4 -RRB- No required minimum distributions -LRB- RMDs -RRB- when you reach 70 1/2 . In retirement , you 'll thank yourself for having the foresight of a tax free income stream while your neighbors face the likelihood of an increased tax bite from their save traditional IRA . 