Quote:
Originally Posted by Buehler445
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.
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Thank you. I am still weighing my options. I think I might have to stick with it all in a traditional 401k because I need that tax benefit coupled with the $25k with the standard deduction for tax bracket purposes. The Roth 401k doesn't help me decrease my taxable income.