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Is there a limit on the amount of the combined contributions one can make to a 401k PLUS an IRA? I've started a new job - hourly pay, part time - I can contribute upto 20% of my paycheck, and the company matches the first 6%. I was also planning on starting a Roth IRA (I am in a lower tax bracket now than I hope to be in retirement). I know the tax deferred contribution for the IRA is $3000 or $3500 (which one?) and I intend to max that, too. But, I don't know whether there is a tax limit on total contributions for retirement savings. In other words, can I be taxed on contributions to my 401k and/or IRA if the total contributions exceed some certain amount? Thanks for the help!
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