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Hi Guys!

Started a traditional ira 3 years ago and max it out. I am single, no children, make a decent (with strict budgeting ethic thanks to my Scottish born and bred mother) salary, but no deductions except for my Traditional IRA. Unless I win the lottery I do not think that I will be making more money in retirement than before. I plan to work part time in my retirement until I can no longer do so (hopefully not for another 30 years). My boss is 78 so I have some experience seeing the benefits of working part time.

Question-

I want to max out again this year at the $3000 level. I feel I need the deduction on the traditional IRA to make that $3000 if I want to cover my emergency fund, 5 year fund, and my 5 DRIP stocks. I do not get a retirement plan from my employer. I also have no debt. None, zilch, NADA (again thanks to mom).

BUT, I keep hearing that ROTH is the done thing. What to do?

I was thinking of also putting $1000 into a no deduction/non-ROTH IRA.

What do you think? Roth v Trad v No Deduct IRA

I do not intend to buy a house (only other deduction I might qualify for) because quite frankly, with all my other investments I would not be able to do both. And I believe that I am getting a better return by renting and investing than buying and not investing.

TMK

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