Everyone wants to find ways to save more for retirement, and minimizing your tax bill is the best way to make sure you hang on to as much of your hard-earned retirement nest egg as possible. One of the best ways to accomplish that goal is to open a Roth IRA, with contribution limits of up to $5,500 for those under age 50 and $6,500 for those 50 or older for 2015.

In the following video, longtime Fool contributor and retirement expert Dan Caplinger discusses the benefits of using a Roth IRA. As Dan notes, not only do Roth IRAs allow you to enjoy tax-free growth throughout your lifetime, but you can even use the Roth as an estate-planning tool to pass on tax-free treatment to your heirs as well. With the right planning, those who inherit your Roth IRA can extend it over the course of their lifetimes, adding decades to the useful life of the retirement account. The key to making the most of a Roth IRA, though, is putting the most appropriate investments into it, and Dan goes through the thought process behind how to choose which investments to make with limited Roth IRA assets.

This article was updated on September 9, 2015.

Fool contributor Dan Caplinger has no position in any stocks mentioned. You can follow Dan on Twitter @DanCaplinger. The Motley Fool recommends Monster Beverage, Netflix, and priceline.com. The Motley Fool owns shares of Monster Beverage, Netflix, and priceline.com. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.