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Can You Have an IRA and a 401(k)?

You can contribute to both an IRA and a 401(k), but there are limitations you need to know.

By Motley Fool Retirement Team – Updated Nov 4, 2024 at 10:05AM

Key Points

  • Contributing to both a 401(k) and IRA can diversify your investment options and tax benefits.
  • Income limits affect IRA contribution deductions; check eligibility based on your AGI and retirement plans.
  • Roth IRAs offer flexible withdrawals and no deduction limits, beneficial for higher-income savers.
Key findings are powered by ChatGPT and based solely off the content from this article. Findings are reviewed by our editorial team. The author and editors take ultimate responsibility for the content.

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