The 1 Reason a Roth IRA Is Really the Best Place for Your Savings

You'll often hear that it's important to save for retirement independently and not simply rely on Social Security to cover your bills. That's because the benefits you receive from Social Security might replace about 40% of your former paycheck if you're an average earner, and most seniors need around twice that much income to maintain the lifestyles they're used to.

Now when it comes to building a nest egg, you have choices. You could put money into a 401(k) plan if your employer offers one, and from there, you may get to choose between the traditional and Roth variety. You could also house your long-term savings in a traditional IRA if you don't have a 401(k) or don't like the idea of saving in one due to the drawbacks involved (like limited investment choices and potentially high fees).

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Source Fool.com