Remarkably my husband and I finished 2009 with nearly $79,000 in retirement contributions. This included savings to both 401k(s) and non-deductible IRAs. Our companies provide substantial 401(k) matching, which really bumped us well past the amount we could have contributed alone.

This year we’ll need to decide whether or not to take advantage of the 2010 Roth conversion window. With the rise in the federal deficit I certainly believe tax rates are headed higher, though I’m not sure exactly how high I think they might go. In my opinion our non-deductibles are a no-brainer, but my husband and I have a couple of rollover IRAs to consider as well.

Besides the tax issue I like the flexibility the Roth IRA provides. I certainly want to retire early or at a minimum decrease my hours as time progresses. I love the flexibility of tapping Roth contributions if necessary or leaving the money alone if I’m lucky enough to never need it.

Of course, there are a ton of factors to consider before making a decision and to be honest I haven’t spent too much time looking into all of them. I have a feeling we won’t convert the rollovers. I hate the idea of paying a significant amount in taxes today and losing out on all of the growth that those dollars could have earned.