Quote:
Originally Posted by lewdog
Help my understand the limits on a Roth IRA and Roth 401k if I have both of them. Can I max out my regular Roth IRA at $6k AND contribute to a Roth 401k too since the limit on 401ks ($20,500) is different?
|
Yes.
You can contribute:
20,500 to a 401k (there is only 1 allowed per employer so type doesn't matter)
6,000 in a ROTH IRA
6,000 in a Traditional IRA
for a total of 32,500 in tax sheltered retirement savings.