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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 79066  
Subject: Re: To Roth, or not to Roth!! Date: 6/3/1998 7:27 AM
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Greetings, Eddie, and welcome.

<<Traditional IRAs are not deductible for me. I am contrbuting to my 401K, and my 457 a total of just over 10% of my salary. I'm single and would like to contrbute to an IRA, specially since my retirement plans do not offer the greatest(by any measure) of funds. I'm looking at(hopefully) about 14 years to retirement. I do have a very high quality and diversified portfolio outside of tax-sheltered plans. I also have one traditional IRA that I don't want to convert to Roth, because of the tax consequences. I would very much appreciate any help offered in whether to ROTH my next IRA, or not.>>

If you have received all you're gonna get in the way of matching contributions from your employer within your 401k/457 plans, then any nondeductible contributions you make to an IRA should go to a Roth. It's a no-brainer decision. Earnings in the traditional IRA will be taxed on withdrawal. Those in the Roth will not provided you're over 59 ½ and the account has been open for at least five tax-years at withdrawal.


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