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Author: 2gynkv Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75793  
Subject: Roth IRA + 401-k in same year? Date: 10/9/1998 12:56 AM
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I contributed over $2,000 to my 401-K in 1998. Can I still open a Roth IRA for 1998? Can I contribute to both in future years as well?
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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 5953 of 75793
Subject: Re: Roth IRA + 401-k in same year? Date: 10/9/1998 8:10 AM
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Greetings, 2gynkv, and welcome. You asked:

I contributed over $2,000 to my 401-K in 1998. Can I still open a Roth IRA for 1998? Can I contribute to both in future years as well?

Yes to both questions. As long as you have the earned compensation to support a Roth IRA and you don't exceed the maximum AGI limits for a Roth, you may contribute to both your 401k and a Roth. Contributions to either have no effect on your ability to use the other.

Regards….Pixy



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Author: zgriner Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 5956 of 75793
Subject: Re: Roth IRA + 401-k in same year? Date: 10/9/1998 9:45 AM
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Contributions to a 401K are not connected to your IRA. So, you can contribute the maximum $10,000 to your 401K this year and contribute $2,000 to an IRA, this year and all future years.

Just make sure to get all the matching funds from your employer that you can before you put money into your IRA.


Zev

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