Yes, you can invest in both an Roth IRA and a 401k (or a Roth 401k and a Roth IRA) at the same time, or any combination of those accounts.
Here are the IRA limits for 2021:
- The IRA contribution limit is $6,000.
- The IRA catch-up contribution limit will remain $1,000 for those age 50 and older.
- 401(k) participants with incomes below $76,000 ($125,000 for couples) are additionally eligible to make traditional IRA contributions.
- The Roth IRA income limit is $140,000 for individuals and $208,000 for couples.
- The saver's credit income limit is $33,000 for individuals and $66,000 for couples.
@AlTax1
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