The clear benefit of having a Roth IRA is the issue of how withdrawals are taxed in retirement. Unlike a Traditional IRA, where the contribution provides a tax deduction at the time of contribution, the dollars deposited in a Roth are post-tax dollars. If in the future you believe your tax bracket will be higher than it presently is, the Roth is advantageous given that you are paying taxes according to your current bracket, and not what it might be in the future. Conversely, the Traditional IRA provides a tax deduction for the current tax year, however, when in retirement the funds are distributed you will be taxed ordinary income tax on the amount withdrawn. There are fewer restrictions with the Roth IRA  and while the annual contribution limit is $5, 000 there is a provision for those over 50 that allows a person to “catch-up” and contribute an additional $1,000,  however you must still watch out for a Roth IRA Withdrawal penalty if you want to withdraw before 59 1/2.