The Roth IRA from Wachovia is a great way to start saving for retirement -- your contributions aren't tax-deductible, but all withdrawals are tax-free. You can withdraw your contributions anytime without taxes or penalties, but earnings can't be withdrawn until the account has been open for five years and you reach age 59 1/2. There is no required  minimum distributions (RMD) during your lifetime; you can also ensure that your beneficiaries will receive your distributions free of tax.