You have a choice of IRAs, each with its own advantages and specific eligibility guidelines.   The Informed Investor's Guide
		Types of IRAs Traditional IRA Traditional IRAs are available to income earners younger than age 70½ and spouses of income earners. You can contribute to a traditional IRA no matter how high your income may be. If you qualify, a traditional IRA offers a current tax deduction for all or a portion of your contributions. If you are not covered by an employer-sponsored retirement plan, then contributions up to the annual limits are allowed, as long as they do not exceed your earned income. If you are covered, your IRA contributions may still be tax deductible depending on your marital status and modified adjusted gross income. Year Annual Contribution Limit 2004 $3,000 2005-2007 $4,000 2008 $5,000 2009-2010 $5,000 indexed for inflation
		Traditional IRA This eligibility chart applies if you are covered by an employer-sponsored retirement plan. Tax filing status 2004 tax year (Modified adjusted gross income amounts)   Single Married, filing jointly Full deduction Less than $45,000 Less than $65,000 Partial deduction $45,000 - less than $55,000 $65,000 - less than $75,000 No deduction $55,000 or more $75,000 or more

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