The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing

URL:  http://boards.fool.com/you-can-open-either-but-you-may-not-be-allowed-to-30527784.aspx

Subject:  Re: 401k , IRA, ROTH..can I hv all 3? Date:  2/6/2013  12:34 PM
Author:  Raladic Number:  71351 of 75539

You can open either, but you may not be allowed to deduct the tax you contribute into a traditional IRA and thus the benefit of having one may be eliminated.

You can also open an ROTH and contribute to it, up to the annual limit, as long as you are within the income limits for it or otherwise you'd have to contribute to a trad. IRA first and then convert it to a ROTH later.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us