Keep track of your Roth IRA contributions, said Ed Slott, founder of Ed Slott & Company. Remember, there is no age limit to add to your account, but there is an income limit.

"The Roth contribution is not shown on your tax return, so you have to keep track of your contributions to know how much can be withdrawn tax free," said Slott. "After age 59 ½ and five years it no longer matters."

Slott added that Roth account holders need to take the Saver's Tax Credit -- up to $1,000 -- if their income is low.

He also said there is no age limit for making a Roth IRA contribution. Savers can continue making Roth IRA contributions even after age 70 ½ if they have earnings, or if their spouse does.

"There are no income limits for traditional IRA contributions, but there are income limits for making Roth IRA contributions," said Slott. "You can make the full Roth IRA contribution if your 2015 income is under $183,000 for a married couple, or $116,000 if you are single."

It's worth noting, however, that your spouse's income can make you ineligible for a Roth IRA contribution, since the income is combined, according to Slott. If you are over the income limit, Slott suggested making a traditional nondeductible IRA contribution and converting that to a Roth IRA because there are no income limits for Roth conversions.

Savers can also make a Roth contribution in addition to their 401(k), said Slott.

"Contributing to a 401(k) does not limit your eligibility to also contribute to a Roth IRA as long as you otherwise qualify by being under the income limits," said Slott, adding that contributing to a 401(k) does not limit one's eligibility to contribute to a traditional IRA, except that if your income is too high, that IRA contribution may not be deductible.

Finally, Slott said there are no required minimum distributions (RMD) for a Roth IRA, but beneficiaries do have to take them.