Question on IRA's and 401K
- Thread starter ageecee
- Start date
- Mar 19, 2006
- 38,456
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at least 10 fellas here every friggin day screaming don't tax my money and this dude can't get an answer in 4 hours on how to protect and save some..
wow..
I can't tell ya dude..keep mine in coffee cans ..
but would like to know what the answer is so when I kick the bucket and the wife gets to know where the coffee cans are buried she will have a clue what to do with all the cash.
wow..
I can't tell ya dude..keep mine in coffee cans ..
but would like to know what the answer is so when I kick the bucket and the wife gets to know where the coffee cans are buried she will have a clue what to do with all the cash.
Allen--Just now seeing post
You can contribute 401k and Roth IRA but not 401k and traditional traditional IRA.
Also if 50 or over you can put in additional $1,000 a year in Roth ($6,000) total- under catch up clause.
Always best to to max out any 401k contribution up to employer limit 1st due to tax savings in addition maxing employer contribution.
Roths also have compensation limits--
http://www.money-zine.com/Financial-Planning/Retirement/Roth-IRA-Contribution-Limits/
You can contribute 401k and Roth IRA but not 401k and traditional traditional IRA.
Also if 50 or over you can put in additional $1,000 a year in Roth ($6,000) total- under catch up clause.
Always best to to max out any 401k contribution up to employer limit 1st due to tax savings in addition maxing employer contribution.
Roths also have compensation limits--
http://www.money-zine.com/Financial-Planning/Retirement/Roth-IRA-Contribution-Limits/
