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I've had a Roth for a few years, but had to just recently open a Traditional since my 401k from previous employer will be rolledover to IRA. In addition to the rollover, i want to contribute to the Traditional. Now, the maximum contribution for year 2008 for singles assuming qualified is...

First, off i am only 32 yrs old, single and not near retirement age yet. I was laid off with a former employer several years ago and had invested in a 401k. Well, i've decided to just last week to transfer that money from the 401k to my online brokerage IRA account(Scottrade). My 401k funds were...