Can I contribute to a Roth IRA if I participate in a 401(k) or another group retirement plan?
Yes. The regulations allow you to participate in an employer sponsored retirement plan depending on your adjusted gross income, and still contribute up to $2,000 per year to a Roth IRA. (Note: If you’re trying to choose between contributing to a Roth IRA and contributing to an employer sponsored plan, remember that an employer sponsored plan that has a company matching contribution will almost always be the better choice.
Related Questions
- Can I contribute to a traditional IRA if I participate in my employers retirement plan? What about if my spouse participates in an employer sponsored plan?
- Can I contribute to a Roth IRA if I participate in a 401(k) or another group retirement plan?
- Can I contribute to a traditional or Roth IRA if I’m covered by a retirement plan at work?
