The weakening economy and growing deficits are making everyone uneasy, especially as we try to prepare and save for our retirement years . Your smartest defense may be to open a Roth IRA. Contributions to the Roth are not tax deductible, but the important advantage comes as the investments it holds grow in a tax free environment, and the big payoff happens when you are able to take distributions from the Roth totally tax free. with taxes projected on the rise , you protect yourself from being taxed as you start your retirement when you open a Roth IRA. Select a self directed Roth and you’ll have the best control over your investments, and be able to make non-traditional choices that have better probability for growth and more stability holding their value. in a self directed plan, you can select solid investments in real estate, tax liens and precious metals, as well as the more conventional stocks, bonds and mutual funds. Make sure the custodial company you select to house the account provides these options and is experienced at dealing with them. ask about their services and the fee schedule, so you know what to budget for transfers and other transactions. If you open a Roth IRA, be aware that after five years of seasoning and when you reach age 59 ½ , you will be allowed to take disbursements from the account tax free. for many people , another benefit of the Roth account is the ability to continue contributing to the account past the age of 70 ½, when traditional IRA plans mandate distributions start. with a Roth, you can continue funding the account as long as you wish , or even leave it as a legacy to your heirs. Like other IRA plans, the Roth also has a catch-up exception for people over the age of 50 that allows them to contribute an additional $1000 yearly . there are a number of benefits to consider, so do your research and find out if you should open a Roth IRA. It’s time to save!