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Wonderful husband has a retired Ira that we are considering rolling into a Roth (We have 'crunched the numbers' and have a fairly good understanding that this is a no-brainer for our financial situation.)
My ? is this: Can he contribute the $2000 non-ded. max. since he now has part-time employment of approx $7000per yr. into this account?
If not, can we OPEN a 2nd Roth and make this contribution?
We file jointly, are in the 28% tax-bracket and are eligible.
I am self-employed. I fully fund my Simple Ira-$6000 per yr.
My 2nd ? is: I want to open a Roth for myself at Vanguard. Since this will be in taxable investments, what fund choices are good for me? My Simple is mostly invested in U.S. Mutual funds-Growth and Growth & Income. I also have VFNIX (Vanguard S&P 500 Index) in a separate taxable account. Thank you for the opportunity to ask . Some of these issues are confusing. Mayoress
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