Need a little guidance...I have a portfolio of ten stocks and a 401K to which I contribute 8%. I am now researching an index fund that I would like to start. I have decided in a Foolish way to go with the Vanguard 500 Index Fund (VFINX). I am single and have averaged over $100,000 in salary the past 3 years. My understanding is that I would not qualify for any tax breaks if I was to make this index fund an IRA Account. Is this correct? What is the best approach here. Thanks Fools!
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