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Recently I rolled over my entire balance from my former employer's 401k plan into a Putnam IRA, consisting of 5 different funds. (Maybe not the best idea, but that's where my former employers fund was maintained through). I only did this to keep it simple during the transfer of funds. Now that I have done this, I have more questions than ever. Currently, with my new employer, I contribute to their 401k plan. Can I still contribute money to the IRA that just opened along with my existing 401k employer plan? Are there limits to the amount that I can contribute between the two within a given year timeframe? Can I change funds within the year without penalty? I realize that these are probably quite stupid questions for some of you, but for beginning fools, this stuff is quite confusing. Finally, any good reading material that could be of assistance? Something faily simple to understand. Suze Orman comes to mind, not that I like her, just that she's relatively easy to follow as a beginner. Thanks.
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