Roth IRAs offer many advantages as a retirement savings option, particularly for people in their 20s and 30s. Roth IRAs contributions are not tax deferred, but can offer multiple tax benefits for some individuals. Roth IRAs are especially helpful to individuals who expect to be in a higher tax bracket at retirement than they currently are.

One of the most popular and financially beneficial forms of long term savings is the 401K plan offered by many employers. This is a substantial employee benefit, and one in which you should participate to the greatest degree you are able. Often employers will make substantial matching contributions, or offering some form of profit sharing as a part of the 401K.