Can I contribute the $15,500 limit to my employer 401k this year and also contribute to personal Roth IRA?

Similar questions: contribute $15 500 limit employer 401k year personal Roth IRA.

Your Roth IRA contribution is not reduced or otherwise affected by any contribution you make to a 401k plan Coverage under a retirement plan maintained by your employer does not affect your ability to contribute to a Roth IRA. If you meet the requirements described below, you can contribute to a Roth IRA even if you participate in an employer plan such as a 401k. Even if you contribute to a Roth 401k account, your contributions to a Roth IRA are unaffected.

For 2006. The basic limit for regular contributions to a Roth IRA is $4,000 for people under 50 years of age, and $5,000 for those who are 50 or older. (Numbers like this can be found in our Reference Room.) This limit may be reduced for any of the following reasons: * You or your spouse may not have enough compensation or alimony income to contribute the full amount.

* Your contribution may be reduced or eliminated because your modified adjusted gross income is too large. * Your limitation is reduced if you've made certain other contributions. Your Roth IRA contribution is not reduced or otherwise affected by any contribution you make to a 401k plan or 403b plan — even if you contribute to a Roth account in one of these plans.

(Technically these amounts are contributed by your employer, not by you. ) Sources: http://www.fairmark.com/rothira/contrib.htm .

" "I recently had a rolled over a 401k from an ex employer to an IRA. Can I withdraw funds from that IRA? " "I have a Roth 401K (after tax money) from a former employer that I want to rollover to a Roth IRA.

Do I own any taxes?" "Roth IRA or Traditional IRA - which one is better? " "If I max out my 401k mid-year from personal contributions, what happens to the employer safe-harbor match left behind? " "If my employer offers a 401k employer match, can I also have a IRA account too?" "Have 30K in an past job 401K.

Want to take it out and put it into an IRA. Trad or Roth? I will let it sit and not add $$" "Can I rollover my 401k minus a loan and tax penalty distrubutions into a roth ira or some kind of ira?

" "Where can I go to learn about investing. Roth IRA's, 401K, high risk compared to low. Anything and everything.

I recently had a rolled over a 401k from an ex employer to an IRA. Can I withdraw funds from that IRA?

I have a Roth 401K (after tax money) from a former employer that I want to rollover to a Roth IRA. Do I own any taxes?

Have 30K in an past job 401K. Want to take it out and put it into an IRA. Trad or Roth?

I will let it sit and not add $$.

Where can I go to learn about investing. Roth IRA's, 401K, high risk compared to low. Anything and everything.

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