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 http://www.fool.com/Money/AllAboutIRAs/AllAboutIRAs.htm. 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.Regards..Pixy
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