Investments & Financial Planning

Can I still contribute to an IRA , if I contribute to a 401(k) retirement plan ?

Answer:

Yes, The contribution limits set by the IRS for IRAs and 401k plans do not overlap, meaning that your contributions to a 401k plan do not impact your ability to contribute to an IRA, and vice versa. However, your earned income, such as salaries, must equal or exceed your contribution amount.
CPAdirectory
Answer Provided by: CPAdirectory

Share This Answer

Looking For More?

View all Investments & Financial Planning Questions

View More Questions