One of the best moves for a person that is saving for retirement is to invest in a Roth IRA. Once you have followed the rules to establish your Roth IRA, any of the money you put into one of these retirement accounts grows absolutely TAX FREE! You will not owe the Federal or State governments a dime as you let your savings accumulate or when you begin to take withdraws during retirement. You can also invest it in almost whatever you want, from stocks and mutual funds to bonds and real estate investment trusts. (Note: Earnings cannot be taken before age 59 or you will trigger a tax bill on the money plus a 10% penalty)

The government limit for contributions for 2007 is $4,000 with a catch up provision (if you are 50 or older) of an additional $1,000. The contribution limit is phased out if your income is between $95,000 and $110,000 (for singles) or $150,000 and $160,000 (married-joint).

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