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Hey polly. FYI, you may want to respond to everything in one post. It may be a little easier for us to read and respond to. Of course, if you really want to do it separately, feel free.


I read someplace that you should actually be contributing the same amount to each. I don't know why, what the benefits of this would be and which one if I don't do this I should be contributing to. Do you contibute to both of yours equally?

Well, if we're talking a 401K and traditional IRA. Its no difference, as they're basically the same thing in a different form.

If we're talking a Roth IRA, then it makes sense to have some in a Roth IRA and some in a 401K, because the tax treatments are different. That way you have some tax options. However, I see no reason why it needs to be exactly equal. I think it makes sense to follow the standard advice: 1) 401K to get the full match, 2) max out Roth, 3) max out the rest of the 401K.


I have no clue if my rollover IRA is decuctible or non-deductible, and same with my Roth. Anyway to to tell without having to call my financial advisor?

A Roth is never deductible.

If this rollover IRA came entirely from 401K contributions, then I assume your 401K contributions were pre-tax, right? If this is true, then it was deductible. As for anything you may have contributed, you would need to check your tax statements for that year, or maybe ask your brokerage (though they may not know).

Btw, that's basically all it means. Deductible = pre-tax contributions. Non-deductible = after-tax contributions.
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