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Hey Guys.

I just read through the IRA section on the website--wow, i think it left me a little more confused than enlightened.

I just graduated from college and am trying to plan for the future. I have a 401(k) account setup with my employer (with matching contributions and all that good stuff), and I am looking into opening an IRA account. I initially felt that I should go for the Roth, but, I think that within the next 5-6 years (hopefully less!!), I will probably lose the privelege to contribute into it (as my AGI will probably increase above the limit). At this point, can I convert the Roth back into a normal IRA? Taking this into consideration, should I still go for the Roth, or just stick with a normal?
Another question I had was--If and when I decide to move from my current company, is it mandatory that my 401(k) account be closed (since it was set up with them)? If so, I can't transfer into an IRA Rollover account, since I would hypothetically already have a Roth or normal IRA account (right?--from what I understand, an individual cannot have both a rollover and a normal/roth IRA account). Keeping the 401(k) would be ideal, i would think, if it is possible, but if not, what then?

hmmm--there is certainly a lot of stuff out there. i'm learning that there's a lot more learning to do. but, i think it's sinking in, and a little progress is better than none.

I appreciate any help/advice anybody can throw at me!!

an overwhelmed yet determined Fool
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