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Greetings, Camilo, and welcome. You asked:

Question 1) The only IRA we can each invest in is a nondeductible traditional IRA as I understand it. Is that right?

Question 2) I can roll over my old 403B into a traditional IRA but I can't then convert it to a Roth IRA. Is that right?


Given your stated joint earned income, the fact you both participate in qualified retirement plans at work, assuming you are both younger than age 70 1/2, that you will file jointly, and given your projected joint ajusted gross income, the answer to both of your questions is an unqualified "yes." For further details on contributions and rollovers to IRAs, see our extensive IRA area at http://www.fool.com/money/allaboutiras/allaboutiras.htm and IRS Publication 590 (Individual Retirement Arrangements) available for download at http://www.irs.ustreas.gov/forms_pubs/pubs.html.

Regards..Pixy
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