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Hi all,

I've recently become the beneficary of a trust that I receive funds from yearly that exceed my regular yearly gross income by times 2.

I've got no debt other than a fixed rate low interest home loan with about 8 years left on it (house payment less than $500 a month).

I started an traditional IRA a few years ago and have about $28,000 in current asset values.

My accountant told me that it didn't make good financial sense for me to put any more yearly contribuations into my IRA because I am very likely to be in a higher tax bracket in the years to come and that I would be better off paying taxes on my income now instead of paying taxes on the money later when I withdrew it from the IRA account.

I'm nearly 52 so it's not very long between now and the 59-1/2 age where I could start drawing out of the fund.

I was wondering if I really should not be contributing into the IRA why then I should let the money lie there and grow through the years (supposing it does grow, I'm invested in indiviual stocks that some have done well and some have bombed through the years).

Should I go ahead and cash the IRA out and take the 10% penalty and pay the taxes on the roughly $28,000 in value now or just manage the stocks (buying and selling) and let it grow (hopefully) and perhaps be in a higher bracket in 8 years and pay even more in taxes on it?

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