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Subject:  Re: No Retirement Plan at work Date:  5/25/2000  11:19 AM
Author:  TMFExRO Number:  4057 of 20791

<< I am starting a job with a company that does not currently have a retirement vehicle in place. Is an IRA my only good option for saving tax-deferred money for retirement? The problem I have with this, is that I would like to save much more than $2000/year for retirement. Will I just have to save in a taxable account, or are there other options out there? >>

You really don't have any other options. I would suggest that you consider a Roth IRA if you qualify and can afford the nondeductible contributions. Earnings in a Roth will never be taxed if you leave it alone until retirement.

I would also suggest that you keep long-term hold assets in your taxable account, and those that may generate short-term gains or other current income in your IRA. This way you will receive benefit of the reduced capital gain rate when you do sell from the taxable account.

Phil Marti
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