A Roth IRA allows you to:

• Accumulate earnings on a tax-deferred basis and 
• Withdraw earnings tax-free for qualified distributions

Unlike a Traditional IRA, contributions to a Roth IRA are not deductible from your gross income on your federal income tax return. However, since you have already paid taxes on the money you've contributed to the account, contribution dollars can be withdrawn at anytime without tax consequences (tax penalties apply for early withdrawals).