Are an IRA& a Roth IRA allowed for the same person?

Answer The same person can have both a traditional IRA and a Roth IRA. However, the annual contribution limit applies to the total contributions, which means that each dollar contributed to one type of IR... Read More »

Top Q&A For: Are an IRA& a Roth IRA allowed for the same person

Can I have a Roth IRA& a Roth 401(k) at the same time?

The Internal Revenue Service does not prevent people from having both a Roth 401(k) plan and a Roth IRA at the same time. A Roth 401(k) plan must be through your employer while a Roth IRA must be s... Read More »

If a person got out of the US Navy with an Honorable dicharge after four years would the person be allowed to go back in?

Can we invest in two roth ira accounts at the same time?

On One Hand: Two Accounts are FineThe Internal Revenue Service does not limit the number of Roth IRA accounts that you can invest in at a time. Having two accounts can help you to diversify your as... Read More »

Can a retired person put money in a Roth IRA?

If a retired person has taxable income, he can contribute to a Roth IRA as long as his adjusted gross income does not exceed the income ceiling of $177,000 for married people or $120,000 for single... Read More »