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Author: adjulian Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75777  
Subject: Rookie investor needs your help Date: 5/15/2001 12:48 PM
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I recently left my job to pursue another opportunity. I am 26 years old and my wife is 23. I have approximately $7500 in my 401k and my wife has 2 mutuals at around $20K. I am in the process of initiating a rollover into a traditional IRA with Vanguard.

QUES 1; is this a good idea or should I leave it in the 401k?

In my new job I will have an opportunity to participate in a SIMPLE IRA program which I will start contributing in 6 months. My wife has a couple of mutual funds with American Century but no company sponsored retirement plan.

QUES 2; I will potentially have a traditional rollover IRA + SIMPLE IRA; does my wife need to open an IRA as well or are we okay with what we have set up?

QUES 3; are there limits to my contributions to my SIMPLE IRA + traditional rollover IRA (and potentially another IRA if we open one up for my wife)and what are they?

QUES 4; any other general tips for being sure we are set up for retirement?

Thanks for the education,
AJ
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