"You get no benefit versus putting the money into a regular savings or investment account." That might be true for some individuals, but for many others there are several potential benefits, depending on the individual's particular circumstances. For some, the deferral of investment gains will allow those gains to be taxed at a future, lower marginal tax rate. For some, it can be a path to getting money into a Roth IRA to grow tax free for those not eligible to contribute directly to a Roth IRA.
