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My wife has just started a new job and we need to decide what to do with the money from her old 401K. A friend suggested that rather than rolling it over to her new 401K, we roll it over to an IRA. My wife and I each have a Roth IRA which we contribute to fully each year. Are we still eligible to buy a standard IRA? If so, are there any advantages to doing so.

Thanks,
Dantam
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