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As a self-employed individual I am very interested in making contributions to a Roth IRA and know about the $2,000 limit. My question is this: can my husband also contribute $2,000 to his own Roth IRA if he already participates in a 401(K) plan through his employer? If so, would that $2,000 affect his maximum contribution to the 401(K)?
Married filing jointly, we fall well within the $150-$160K income limit. While I don't see it happening in the near future, what happens with the Roth IRA(s) if we eventually exceed that limit?
Thanks!
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