Pardon me if this has been covered (couldn't find it in a search...)According to what I've read, a SIMPLE plan seems to be categorized more like a 401K than like an IRA. Is this correct? I currently am enrolled in my companies (non matching) 401K and I have a ROTH IRA. My question is this: can my wife who is self employed set up a SIMPLE (or even a Keogh) AND still contribute to her ROTH IRA?Yes. SIMPLEs, SEPs, and Keoghs are retirement plans for the self-employed, just like your 401(k) is a retirement plan for you. She can contribute to both a retirement plan and a traditional or Roth IRA.See Publication 590.Phil Marti
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