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Sounds like good advice. I would like to ask a follow up or two.

I understand the technical difference between traditional and Roth IRA's and, on the surface, would prefer that my ongoing contributions be made tax free, assuming by the time that I'm needing the money, I'll be in a lower tax bracket. And I like having more of my money now. But I sense a lot of enthusiasm about Roth's. Why is that?

If I roll my 401-K into a Roth IRA, do I have to pay taxes now on my past contributions? What about my employer's past contributions?

It looks like I can open an IRA that is "non-contributory" or a holding account or one that would allow ongoing contributions. Why would one want to open an account where you can't make ongoing contributions?

Many thanks!
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