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.TMF ExROPhil MartiHot off the press! Check out The Motley Fool Investment Tax Guide 2001. It comes complete with a money-back guarantee. (Sorry, the steak knives are extra.)http://www.foolmart.com/Shopping/Product_View.asp?PRODUCT_ID=MF030_02
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