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Hi! Just a couple of quick questions that I was hoping someone could answer:

1. I'm 24 and have been contributing to a Roth IRA for 3 years (max each year). Now what do I do when my income rises above the cutoff level ($110,000)? Am I forced to convert the Roth IRA to something else, or is the only limitation that I cannot contribute any more to it?

2. Related to #1, if I could keep the Roth IRA but not contribute to it anymore, could I open a new traditional IRA that I'd be able to contribute to? Put simply: can I have more than one IRA account open at a time?

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