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Subject:  Re: Basic Question Date:  3/6/2003  8:04 PM
Author:  JWR1945 Number:  35838 of 88066

Since I do not have any 401(k) available to me, I can only contribute $3000 to a traditional IRA and that is it, no Roth because I have already maxed my IRA contributions.

I do not understand this restriction. You can open up a Roth IRA if you wish to do so. Your total contribution to both is limited to $3000. But you can allocate it in any way that you wish.

If you had said that you had passed an income threshold that prevented investing in a Roth IRA, I would understand that. Is it because you wish to make deductions? If so, it is usually better to take the Roth IRA unless your time-frame is very short.

Have fun.

John R.

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