Hello Casey, a couple of quick questions for you. If I contribute to our work 401k can I still contribute to an IRA? I have 2 other IRAs, one with Schwab and Vanguard. Ok now for my 2nd question, does the 5000$ limit for IRAs apply as a group limit or can you contribute 5000$ say to two IRAs for a total of 10000$ in two different IRAs? Thanks and have a good day, I enjoyed the seminar!
You are not eligible to to contribute to a 401k and a traditional IRAk however you could contribute to a Roth IRA. The 5K limit is for your total IRA contribution, not per IRA.
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- Friday Nov 13 - 2:51am
RT @DaveRamsey: If you don’t teach your kids about money, they'll grow up and move into your basement. Don't do that to them OR you! https:…
- Thursday Nov 12 - 3:47pm