In searching for the optimum tax free investment, it becomes clear that the various forms of Individual Retirement Accounts (IRAs) offer distinct advantages. An IRA is available to the company-employed and self-employed. In traditional IRAs, contributions may be tax deductible, depending on income level, and investment earnings are tax deferred until withdrawn. Roth IRA contributions are not tax deductible, but qualified withdrawals are tax-free. Unlike Roth IRAs, traditional IRAs are subject to required minimum distributions at the age of 70 1/2.