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Mortgage and car only debt.

Interest rates? Is mortgage deductible? Any prepayment penalties?

Enough savings for emergencies, contingency fund, etc.

If you lost your job for a year and had to do major home repair and replace a car?

I am wondering is there is a reason to choose one IRA over another
if one has no children, assuming spouse dies first.


I have never heard of presence or lack of children being a reason to choose one IRA over another. If you die, the IRA has to be distributed in the same amount of time either way.

If the costs for paying for a IRA is small, less than $15 a year

Some IRAs are free, some cost hundreds of times that.

why not have both the traditional IRA, for years when you need a tax deduction; and a Roth IRA, for the years you don't.

Because low-balance accounts typically have higher fees and fewer investment options, it's usually better to stick all your contributions in one IRA at least until your balance is $10,000 or $20,000.

Your decision on whether traditional vs. Roth should be based on your marginal tax rate now vs. your projected marginal tax rate when you retire -- nothing else. (In years where your income is higher, you'll probably benefit more from a Deductible Traditional IRA.)

Your job offers no retirement plan? Are you self-employed?
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