The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: HELP!401K rollover question||Date: 5/15/1998 2:00 PM|
|Author: PSUEngineerFool||Number: 3320 of 75532|
<<Help! I recently rolled over my 401K into a IRA.
Can I know put $2000 a year into the IRA, even if
I contribute to a new 401K in a new company?
Can I put in the $2k if I don't start a new 401K?>>
Yes, you can contribute $2000 to the IRA if you contribute or not contribute to a 401K at your new company. But you may not want to because the new contribution to the rollover IRA will taint the IRA. This means you can't rollover the IRA into your new 401K if you desire to do so. TMFPixy give a good explanation at the following link
(I hope I got the link right)
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|