Can you contribute to IRAs& a 401k?

Answer The Internal Revenue Service rules permit people to contribute to both IRAs and 401k plans. The contribution limits for the two types of retirement plans are independent of each other.References:IR... Read More »

Top Q&A For: Can you contribute to IRAs& a 401k

How Much Can I Contribute to SEP Traditional IRAs and Roth IRAs?

SEP plans, traditional IRAs and Roth IRAs have changed dramatically over the years. Maximum contribution amounts to each of these have changed almost annually, and are subject to future adjustments... Read More »

Can IRAs be rolled over to a 401k?

The Internal Revenue Service permits IRA funds to be rolled over to a 401k plan. However, it is up to each individual 401k plan to determine whether it will accept such rollovers.References:IRS: Ro... Read More »

Can you contribute to both Roth& traditional iras?

The Internal Revenue Service allows you to contribute to both Roth and traditional IRAs in the same year. However, the contribution limit is cumulative for the two accounts, so each $1 that you con... Read More »

How much should I contribute to my 401K?

I agree with Steven F's 15% strategy. Always strive to save 15% of your gross (pre-tax) income toward retirement. If you can manage, save another 10% for other needs, such as your emergency accou... Read More »