The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  http://boards.fool.com/greetings-thinkbigger-and-welcome-you-asked-11787496.aspx

Subject:  Re: IRA "either/or" questions Date:  1/11/2000  9:39 AM
Author:  TMFPixy Number:  17638 of 74759

Greetings, Thinkbigger, and welcome. You asked:

<<Hubby and I both work - he has a pension thru his employer, I on the other hand do not. We file jointly.
I have read your info on regular IRA's and Roth IRA's but can you do both?? ie can I do a regular IRA and he do a Roth?? I know about the income limits and we are under those. I have seen excellent examples of "either or" but no "you can do both". Did I miss something on your Foolsih IRA info??>>


Yes, you may have a traditional IRA while your hubby uses a Roth IRA. Both of you may also have and make contributions to a traditional and a Roth IRA at the same time. The types of IRA either of you uses does not matter. All that does is neither of you may contribute more than $2K in any year to your separate IRAs. So you yourself can put $1 in 1,000 traditional IRAs and $1 in 1,000 Roth IRAs for a total of $2K. Your husband can do the same thing. All that's important is the contribution limit, not the number or type of IRA.

Regards..Pixy
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us