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Subject:  Some advice please Date:  12/23/2004  8:45 AM
Author:  ffearless Number:  43685 of 87981

I would like some advice on IRA's. I know this board has probably answered my questions already, but the topics are so many that by the time I finished reading them, I might already be retired.

I am a 52 y/o male with 3 kids (one in college/one starting college in 6 months/one starting college in 2 years) (college tuition and other expenses alreay paid for through Pre-Paid Program). I am a stay at home parent. My wife works in the medical profession with an annual salary of $175k - $200K. We have the usual debts of home, credit cards, auto's.

Wife has a 401k plan at her job. I have an IRA. We also have investment accounts that are self paced, ie I do it.

My investment goals are to have an income source for retirment.

Questions: What kind of IRA's can I have? I have a traditional IRA now, but I am limited to the amount I can put into it. How many IRA's can I have? What is the maximum amount of contributions that I can make into all IRA's?

Thanks for any information you all can provide.


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