The Roth IRA was established in 1998 and offers a variety ways to invest.
A Roth IRA’s main advantage is its tax structure. You may add only contributions to earned income that has been taxed already. Also keep in mind this is not tax deductible. 2007 limits are $4,000 and it increases in 2008 to $5,000. If you are married both partners are able to add the maximum amount that is allowed for the year.
Great article on why we all need a Roth IRA: http://www.kiplinger.com/columns/starting/archive/2006/st0309.htm