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Greetings, Felicema, and welcome. You asked:

<<I contributed to an IRA for several years before being hired by my present employer. I now have the opportunity to contribute to a 401K. Can I keep the IRA and 401K, or do I have to choose one or the other. It's a traditional IRA. >>

As long as you have earned income and are under the age of 70 1/2, you may alwayscontribute to a traditional IRA. However, because you participate in a 401k plan, the deductibility of that contribution is contingent on your filing status and your Adjusted Gross Income. For details, see our IRA area at If the contribution will be nondeductible, then almost certainly a contribution to a Roth IRA (assuming you meet the AGI contribution limits for that) will be better because of the ability to take tax-free withdrawals in your retirement.

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