Investments & Financial Planning

Can I still contribute to an IRA , if I contribute to a 401(k) retirement plan ?

Yes, The contribution limits set by the IRS for IRAs and 401k plans do not overlap, meaning that your contributions to a 401k plan do not impact your ability to contribute to an IRA, and vice versa. However, your earned income, such as salaries, must equal or exceed your contribution amount.

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