Racking up a seven-figure retirement account might seem far-fetched, but the Roth IRA rules make it possible. A Roth IRA is a tax-advantaged retirement account that allows your investments to grow tax-free, and qualified withdrawals in retirement are also tax-free.

Anyone can contribute to a Roth IRA at any age, even a 70-year-old, as long as they have earned income for the year. Although the contribution limits are lower than other retirement accounts like a 401(k), you can still put a Roth IRA to work to make compounding magic happen over time.

Below are four tips to get you moving toward your goals.

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Source Fool.com