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If I understand you correctly you have a 401k plan that you wish to rollover and you wish to start a contributory roth ira.
If this is true you have the correct information. 401k money can not be put into a contributory account. It can only be rolled to a qualified rollover plan. This plan does not allow for aditional contributions. You can of course, still start a roth ira as a separate account. I do still think this is a good idea if you have at least five years before retirement because the tax free earnings are only good if you have had the account for at least five years.
As far as the foolsih portfolio, I am not an expert and maybe someone will post a way to reduce the commission charges for you. Hope this helps.
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