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Age 54.
Married with No children.
No pension or 401K.
Debt paid down.
Mortgage and car only debt.
Enough savings for emergencies, contingency fund, etc.

I am now choosing between a traditional and Roth IRA for the 2005 tax year. Then the same decision for 2006. Money already saved. The lum sum would be invested all at once, not a little each month for these two years.

I presently have no IRA and my spouse plans to retire in between 5-7 years depending on a variety of factors.

I have two IRA questions.( Yes I have left the same question with my
tax advisor, lawyer and financial advisor; just covering the bases.)

1. I am wondering is there is a reason to choose one IRA over another
if one has no children, assuming spouse dies first.

2. If the costs for paying for a IRA is small, less than $15 a year
why not have both the traditional IRA, for years when you need a tax deduction; and a Roth IRA, for the years you don't.


Hi DW...

The "Tax Guide For Investors" by Fairmark Press has some good information that may help to answer your questions as to which IRA would work best for you:

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