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Yes, you can open a Roth this year and stuff it full of Foolish Four stocks.

You don't need to convert (but you could if you wanted to- and it might make it easier to keep your records organized) last years traditional IRA to a Roth.

Yes, you can have both types of IRAs at the same time, but the total contribution each year is still only $2000 (for example $1000 to traditional and $1000 to Roth, or $2000 to one of them and none to the other).

As for what strategy to use in a Roth, it's basically the same as choosing a stratgy outside of a Roth - personal preference. One thing you may want to keep in mind, though, is that the fees for trading inside an IRA come from that $2000 contribution. You just don't want to be buying so many stocks that it spreads your $2000 very thinly as well as makes your trading fees too large a percentage of the total money in your IRAs.

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