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I'm a 30year old single male with no dependant's to claim. I have not bought a house yet either. I was wondering which would be a best to open. I make about 70,000 a year and don't think any contributions to an Ira are deductable ? If that's the case wouldn't it make more sense to open a Roth Ira instead ? being that I would probably be paying tax on My contribution anyway ?

At your income level traditional IRA contributions are not deductible if you are covered by a retirement plan at work. If you can't deduct traditional contributions, the Roth is clearly better than nondeductible traditional contributions, your other option.

Phil Marti

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