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I and my wife are in the high income bracket (38% tax rate) and are 30 years old. I would like to start saving for our retirement, reduce my tax bill, and also save for our infant (5 month) daughter's education. I spent about 2 days reading a lot of books and another day on ur web site. What I gathered is that
1. IRA is not an option as a tax saving benefit for us because of the tax bracket
2. I should start investing in a index fund.
3. Does an Educational IRA make sense?
4. I do not want to use a financial advisor (AmEx charges $2500 for creating an investment plan).
5. I have MSFT Money. Will it be useful to input the numbers into this tool and look for advise.

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