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Its a tough decision. If you needed that tax deduction for the IRA, you will lose it by converting to a Roth. So how much do you really need it?

Long term, if you expect to invest in growth stocks, you will be better off in a Roth and especially if you are in a low tax bracket now, but expect to be in a higher one later.

Whether to go with stocks or mutual funds is a personal decision that depends on your stock picking skills. Why not try a stock account with your next years contribution and see how you do. After only a few years, you will know which works better for you.

Best of luck to you.
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