Innovation Pharmaceuticals Inc (IPIX)

[Darwinian]

Thanks for the reply. I'm aware of the Roth advantage. My local Scottrade broker advised me to open a traditional IRA account and a Roth so I could split it or transfer it to Roth in steps so as not to take the tax hit all in one year. I'm kinda thinking of going Roth though. Makes sense to me to pay the tax upfront on 17000 than on whatever that amount may be 18 years from now. I do have a question if someone has time to answer...Do I understand correctly that if I withdraw early from Roth I pay IRS fees of about 10% plus tax? I'm pretty sure that's the case for a traditional account but, to me, it doesn't seem like it should be the same penalties for both...for some reason. If I do somehow end up making a ton of cash, I'd hate to have to wait till I'm 59.5 to be able access it.

I like to have cake...and eat it too.

Thanks again.