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Author: AZTIMMY Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75828  
Subject: NEW ROTH/TRADITIONAL IRA DILLEMA! Date: 1/10/2001 4:06 PM
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I left my job 1 year ago for a company that did not have a 401k available to me until 1 year of employment with them . I converted my 401k from the previous employer to a traditional IRA account. 6 months later my current employer made it available for everyone to join the company 401k., which i plan on contributing to that account.

My "broker" who has my IRA account, wants me to leave my $ (only $2800)in the traditional IRA account, without contributing to it forever more, and wants me to start a new roth IRA account, where i would make my contributions

I am married and our AGI is 110k a year (filing jointly). I am feeling immense pressure from him as to open up a new account, because he says that the taxes that i will pay in the future for the traditional IRA will be outrageous. (according to him.) But, i feel like the money albeit small in my traditional account, is better than starting over at $0.00 with a Roth, and would rather contribute $ toward the IRA account and my 401k.

I am wrong to do this?

Any ideas/help would be greatly appreciated, to this VERY new investor
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