I have a 401-k plan that due to a severance arrangement as a result of a corporate buyout I have been unable to contribute to for over a year. During that time unfortunately I have become totally disabled and am wrestling with whether to convert the 401-k plan(now totally invested in a S&P 500 index fund)to a self-directed IRA to which I can contribute annually. However in the process of conversion I will be unable to convert the after-tax portion of the plan (about 5% of the total) due to government regulations. I will not receive disability benefits for another year and have 15 years until retirement age.What is the best way to go here? Continue with the current plan without being able to contribute and simply contribute the $2000 per year (my wife is gainfully employed but has no 401-k plan) to a separate simple IRA? Or if so, would a Roth IRA be more advantageous? Thanks
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