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I determined that I should be able to contribute to a Roth through 2008 which will be when my income is too high to contribute any more...what happens to my Roth then?

You can still keep the account. You just can't contribute more to it until your earnings fall below the limit.

Should I make a separate retirement account now to start contributing to?

IRA contributions by themselves are not really enough to fund a retirement. You really need more retirement savings than just an IRA. So if you're not contributing to a 401k or other retirement plan at work, it would be a good idea to start saving for retirement in an ordinary (not tax advantaged) account.

--Peter
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