Ir As: The Pros And Cons Of Converting

The gold rush has begun. Banks, mutual funds, and brokerages are hitting the newspapers, the Internet, and your mailbox with a fury to persuade you to open or switch an individual retirement account. With the 1997 Taxpayer Relief Act, savers have a confusing welter of choices: three different IRAs, with the flexibility to convert old accounts into new forms. That's not to mention all the possible investment options.

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