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A couple of years ago, I inherited a large chunk of cash. Part of my investment planning was to put some of it into tax deferred investments. I allocated $60,000 to go into the retirement investment. Since IRAs had a maximum yearly contribution of $2,000, it would have taken 30 years to get the money invested in an IRA so I opted for a Vanguard annuity. Now that I am more Foolish, I think I could do better in my own investments. The only problem is that I don't know if I can do this tax deferred with $60,000.

Are there any tax deferred investment vehicles (IRA, ROTH, ...) that I can use that will allow me to put in $60,000?

Will I have to terminate the annuity and invest outside of IRAs?

Would I be better off investing outside of IRAs and putting $2,000 a year of procedes into a ROTH IRA?

By the way, I'm 30 years old if that makes a difference.

Thanks in advance.
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