Well, if you look in Publication 590 from the IRS, http://www.irs.gov/forms_pubs/pubs/p590toc.htm , there are much lower limits for the deductibility of that Traditional IRA if you are covered where you work(This is paraphrasing they use I think employer-sponsored plan) and so you don't get that tax benefit now and later you will pay taxes on the gains made within that Traditional(Did you realize this I wonder?). The other ideas are to convert the old Traditional IRA to a Roth or move it into the new employer's 401k if there is a good option there(Some 401ks can get into institutional funds that make them slightly better then retail funds, eg compare VINIX to VFINX for the S & P 500 index fund case).JB
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