can you enjoy both a 401K and an ira?
Aug.04, 2011 in
Small Business Questions
can you enjoy both a 401K and an ira?
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August 4th, 2011 at 12:39 am
yes You can hold both, but if you want to make contributions to an IRA while also contributing to a 401(k), the IRA must be a Roth IRA.
August 4th, 2011 at 12:39 am
Yes, you can own both an employer sponsored 401k and a traditional IRA. You can also have a Roth IRA. There are also different 401Ks out there that are roth 401Ks.The solitary concern with this is, when you retire or walk off the company, you need to roll over your 401K into an IRA. You can roll your 401K into your existing IRA. Hope that help
August 4th, 2011 at 12:39 am
Yes you can, but if your employer offers a 401k, a contribution to a traditional IRA may not be duty deductible. Go to http://www.irs.gov and download publication 590 for the details. yes