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Greetings Tom...

Bill, If you have a traditional IRA, you could consider converting it to a ROTH and your wife could benefit from if you pass before she does. However, this only works if you have already created the traditional IRA from earned income.

I don't have a traditional IRA. When I was in my income producing years, I was too busy spending my money to really consider saving much. And, investing in the stock market, well...that was way too confusing for me, besides, I was looking at a decent government pension. Why did I need to concern myself with all that investing stuff. Why, in deed!!

I only wish that someone would have taken me aside and explained a few things to me. The fear of the unknown (Investing in general) and a false sense of financial well-being can get a person in trouble, or at least result in a retirement situation that could have been much better. I'm not complaining because I know of alot of people who took huge hits on their retirement investments where I didn't. But, we all would like to have just a little more than we do.

Hopefully, the laws will change to where anyone with any type of funds will be able to utilize the IRA approach for whatever investing reason thay want. It probably won't happen, but it's a nice thought!

Happy Holidays,
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