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If you do not contribute to your 401-k can you contribute to an IRA?
You can contribute to both a 401K and an IRA at the same time (same year).
Is a 401K the same as an IRA?
A 401k and a IRA are different. A 401k is a employer sponsored plan while a IRA is not.
Can you contribute to both IRA and 401k at the same time?
yes, but there are earned income limits that may prevent you from deducting a Traditional IRA on your taxes if you were covered by a 401(k) As discussed here - http://www.savingtoinvest.com/2011/07/contributing-to-an-ira-and-roth-ira-if-you-already-have-a-401k.html - you can contribute to both (limits are different) based on income levels and meeting eligiblity rules.
Can you have a IRA and a Roth individial 401k?
Is your question can you have both a ROTH and Traditional IRA? If so, yes you can.
How is the 401k different from the Roth ira?
There is one main difference between a 401k and a Roth IRA. The maximum contribution limit for a 401k is about three times that of an IRA.
If you do not contribute to your 401-k can you contribute to an IRA?
You can contribute to both a 401K and an IRA at the same time (same year).
If you have a 401k and an IRA can you convert some of your IRA to a roth IRA and contribute to your IRA?
Yes.as long as you do not contribute more than your annual limit.
Can you contribute to an IRA or 401k after age 70.5?
You can contribute to a Roth IRA after age 70.5 as long as you have earned income, but you cannot contribute to a traditional IRA after that age. For a 401(k) plan, it depends on the rules of the specific plan, but typically you can continue to contribute to it past age 70.5 as long as you are still working and the plan allows for it.
Do chefs get a 401K?
Any employee, regardless of the type of work he or she performs, is eligible for a 401k if the employer offers it. An employer is not required to offer a 401k, however. If an employer-sponsored plan (401k, 403b, SEP IRA, etc.) is not available, often individuals will contribute to a Traditional IRA or Roth IRA.
Can you contribute to both IRA and 401k at the same time?
yes, but there are earned income limits that may prevent you from deducting a Traditional IRA on your taxes if you were covered by a 401(k) As discussed here - http://www.savingtoinvest.com/2011/07/contributing-to-an-ira-and-roth-ira-if-you-already-have-a-401k.html - you can contribute to both (limits are different) based on income levels and meeting eligiblity rules.
Is a 401K the same as an IRA?
A 401k and a IRA are different. A 401k is a employer sponsored plan while a IRA is not.
Can you have a IRA and a Roth individial 401k?
Is your question can you have both a ROTH and Traditional IRA? If so, yes you can.
How is the 401k different from the Roth ira?
There is one main difference between a 401k and a Roth IRA. The maximum contribution limit for a 401k is about three times that of an IRA.
Is it a good idea to rollover from a 401k to an IRA?
Both 401k and Individual Retirement Accounts (IRAs) are retirement savings accounts. You may ask your old employer to do a direct rollover of your 401k plan to your IRA account with no loss of money.
Does an employer offer a roth IRA?
Employers do not offer any type of IRA, they offer 401k plans. Many employers offer both traditional 401k plans and Roth 401k plans. You will need to check with your employer to see if they offer a Roth 401k option.
You maxed out your 401K in 2008 how much can you contribute to a roth IRA in 2008?
Roth IRA contributions are not affected by 401k contributions in any way. The max contribution for 2008 was $5000 ($6000 if age 50 or above). This is of course assuming you fall within income requirements for a Roth IRA.
Does a 401K or Roth IRA provide greater tax efficiency?
A 401k and a IRA are different. A 401k is a employer sponsored plan while a IRA is not. A Roth grows tax free, while a 401k is taxed when you withdrawl the funds.
