Like everyone else , you’ve probably wondered how to increase returns on your retirement savings and investments. Hopefully, you already own an individual retirement account. Now you should think about opening a Roth IRA account. And if your IRA is a traditional account, look into the possibility of rolling it over into a Roth IRA account. The Roth account is unique , due to the tax structure. Perhaps the biggest asset of a Roth IRA account is that the earnings are not taxed when you withdraw them.  During your retirement years, when you might not have a sufficient regular income, this could be a big savings . In a Traditional IRA, you will be taxed on dispersements and perhaps at a higher tax rate than what you are currently paying. It’s hard to predict the future and guess what the economy and tax schedule could be, but it is likely to be greater rather than smaller . There are far less restrictions on a Roth IRA account in comparison to a Traditional IRA ; for example, you are not forced to take mandatory withdrawals of funds at age 70 ½, and the owner could continue funding the Roth IRA account indefinitely. If you do not want to take out the funds , you can continue to contribute and grow your wealth as a legacy for your heirs. There is no required reporting to the Internal Revenue Service on the Roth IRA account, however with a Traditional IRA you are required to report a deduction on your 1040 form when you make a contribution. And a Roth IRA account allows far more flexibility in investment choices than a Traditional IRA. Choosing a self directed Roth IRA account puts you in charge of the choices . You’ll decide on the custodian, and select investment options that you understand and are familiar with, and that will help you achieve the maximum returns as you build retirement security.