- First if your workplace has a 401k plan - work to max it out all you can first. - With a regular IRA, you are allowed to deduct the contribution from you gross income, thus saving some on taxes, $5000 up to 50 years old and $6000 over 50. Also there is a forced withdrawl or distribution at 70 1/2. And there is a major tax hit in case of an early withdrawl. - With a Roth IRA, you can again contribute up to $5K but the money cant be deducted off gross income at tax time. The benifit is that any gains are not taxed ever, and there is no requirement to take out any distributions. Also after 5 years of owning the account - you can take out your base (your original money that you put in, - there might be an over 50 years old requirement on that. gotta check) - If you can stand getting by without the upfront tax deduction, the Roth is the better vehicle over the long haul. I'm sure other "gurus" will kick in........