Facts:

- the basic limit for regular contributions to a Roth IRA is $4,000 for people under 50 years of age, and $5,000 for those who are 50 or older. Some conditions apply. Upper limit at annaul income of $94,000?

- Follow the rules and any money you put into one of these retirement-savings accounts grows absolutely tax free — you won’t owe Uncle Sam a dime as you let your savings accumulate, or when you cash it out in retirement.

- you can take out your contributions at any time — not your earnings. If you withdraw any of your earnings before age 59, you’ll trigger a tax bill on the money, plus you’ll have to pay a 10% penalty

http://moneycentral.msn.com/content/Savinganddebt/Savemoney/P147209.asp

http://www.fairmark.com/rothira/contrib.htm