In addition, since there is no deferred tax then there is no corresponding rush by the IRS to get you to access the account so they can tax it. As a result, there are no required minimum withdrawals for either you or your beneficiary. This makes it a useful retirement account to have at the ready and an incredibly convenient wealth transfer tool too!
With proper balancing there is much good to be found in Roth IRA accounts as part of your overall plan. While the law still allows, many can convert their traditional IRAs by paying the taxes due on those funds today, to secure both the remaining principal and all future appreciation tax-free.
One important insight from this article in particular, however, is a bit of hesitation over the future of the tool and the tax revenues to be gleaned by the federal government. The 10 year study conducted to support the law found increased revenues, which could only be expected since conversion means paying taxes today so you do not have to pay them 10 (or 50) years from now. What will happen in the future when there is no tax being paid on the appreciation? How will the Roth IRA fare then? Will the IRS try to find a way to tap into this retirement and wealth transfer tool at some point?
