How to Save $1 Million in Less Than 40 Years with a Roth

Want to lower the amount of taxes you need to pay in retirement? Then leveraging a retirement account like a Roth IRA might be an excellent strategy to use.

Roth IRAs are individual retirement accounts with a unique tax advantage: Your contributions going into the account are taxed, but you can withdraw that money in retirement tax-free. This is a nice way to balance out the tax-advantaged accounts you may already have, including the popular traditional 401(k) at work, which is tax-deferred.

But Roth IRAs come with a few limitations, and one of the biggest is the fact that you can only contribute so much to these accounts per year. Still, it's possible to rack up a whopping $1 million in a Roth -- and you can do it within your working career if you start early. Here's how.

First, Make Sure You Can Contribute to a Roth IRA

Before you get too excited about saving $1