IRA!?

What is a Traditional IRA?
 A tax-deferred account where anyone under the age 70 1/2 who has earned income may contribute up to $5,000 annually ($6,000 if over age 50). The penalty for early withdrawal, which is before you are 59 1/2, is ten percent. An exception to this penalty is if the withdrawal is for an education expense or up to $10,000 for your first home purchase.

What is a Roth IRA?
An after-tax contribution to a retirement savings in exchange for a tax free income in retirement. If you think you will be in a higher tax bracket when you retire then a Roth IRA would be the better choice for you. You can contribute 100% of your compensation up to the limits of, single is $5000 and married is $6000. You are able to withdraw any funds tax and penalty free and do not have a minimum contribution amount after you are 70 1/2.