An Individual Retirement Account or IRA is an ideal resource to help you in your retirement goals. The accounts have a tax advantage, which ensures you do not have to pay any tax when you withdraw funds from the account at the time of retirement. Many individuals do not consider opening a retirement account on their own; for them, the planning for retirement begins and ends with the employer’s retirement plan. However, it is important to keep in mind that the retirement plan chosen by the employer may not provide enough for you. This is why you should open a Roth IRA account and make your investment.

Here are our top picks for Roth IRA funds for 2018.

Target Retirement 2050 Fund
This is a lifecycle fund, which starts out with stocks and tapers into bonds over a long period of time. It allows you to take a risk while you are young and reduces the risk of the fund as you reach your retirement age. This fund covers the much-needed gap in most investor’s portfolio. It fits perfectly for “buy and hold” and has a higher rate of return.

500 Index Fund
This fund is filled with the best large-cap companies and is the closest to tracking the US economy as it invests in top 500 biggest companies based in the country.

Buffalo Discover Fund
This is a growth fund, which is fairly small. This means managers can make well-informed decisions across the small and midsized companies. The portfolio managers research the market and maintain a disciplined approach to finding opportunities in order to generate higher returns.

JP Morgan Smart Retirement Income Fund
This investment helps generate capital appreciation and increases current income. It is meant for retired investors or investors who would retire in the near future. It provides an exposure to varied asset classes by investing in underlying funds. It lays focus on fixed income funds more than equity and other funds.

MFS Lifetime Income Fund
This fund is for investors who are looking for a steady income while increasing their funds. It puts multiple stock and bond funds into a single investment and offers instant diversification. It has a mainly static portfolio that consists of corporate and US Treasury bond funds.

These are some of our picks for the best Roth IRA funds of 2018 out of the many funds offered in the market. However, investors should carry out a thorough research and even check for retirement annuity rates and then make an investment decision based on their current financial condition and analyze their requirement of funds at the time of their retirement.