Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I am recently married and have had my own Roth IRA and an IRA rollover (from an old employer's 403B plan). I participate in my current employer's 401k plan. I have been contributing to my Roth IRA the max amount allowed last year and this year, but have not contributed to my IRA rollover since I have had my Roth.

Now that I am married, I am confused as to the maxixmum allowable contributions to any and all IRAs including my husband's contributions. He is participating in his employer's 401k but has no IRA of any kind. Someone told me we could each have an IRA (I know that contributions are not deductable for us since we both contribute to 410k's) and that he could even have his own Roth IRA. This seems strange to me since we use our combined incomes to max out the allowable Roth contribution (when I was single, I made too much money).

I'm sorry if this is getting long winded. I guess what I want to know is how many IRA's, Roth or otherwise, are we allowed to contribute to, deductable or not?

Thanks much for any info on this.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.