Every so often, opportunity knocks. Once in a blue moon, it pounds on the door. Opportunity is now pounding. It's time to open that door.

Presenting the ROTH IRA.

Qualified distributions from the ROTH IRA are TAX FREE. That's right, TAX FREE. That's the compelling feature of the ROTH IRA - when you take a qualified distribution from your ROTH IRA, you pay NO TAXES on any of the earnings that your money has generated.

What exactly is a qualified distribution? In order for the earnings to be TAX FREE, you must meet a five-year holding period for your ROTH IRA. After that, any earnings you withdraw for a qualified distribution are TAX FREE and IRS penalty free. Qualified distributions include:

Distributions made on or after the date on which you attain age 59 1/2

Distributions made to your beneficiary (or your estate) upon your death

Distributions attributable to your being disabled

Qualified first-time home buyer distributions (up to $10,000)