Retirement

A benefit of the Roth IRA is that the account can exist, essentially, forever without any minimum required distributions."The Roth IRA can be passed down to the next generation and provide tax-free earnings for that generation and the next," says Barber.
A Roth 401(k), on the other hand, will require distributions starting at age 70½. If you need the money, you may not mind taking the distributions. But there is a way around it if you prefer to keep your savings working for you tax-free.
The contribution limits for a 401(k) are roughly three times higher than that of an IRA.

 The most distinguishing characteristic of 401(k)s, whether Roth or traditional, is the high contribution limit, allowing employees to squirrel away up to $16,500 per year. For workers over 50, the ceiling is $22,000.

Social Security is a social insurance program that is funded through dedicated payroll taxes called Federal Insurance Contributions Act (FICA). Tax deposits are formally entrusted to the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, or the Federal Supplementary Medical Insurance Trust Fund^.