I'm currently a researcher at a public university. The university offered 403b and 457b retirement plans with Roth and traditional options. And I have a Roth IRA account. My question is: Suppose my annual earned income (W-2) is 24,000 (the extreme case). Can I contribute 20,500 to Roth 403b (2022 limit), as well as 6,000 to Roth IRA (2022 limit)?
I understand Roth IRA contribution needs to be after-tax earned income. And Roth 403b is deducted directly from my payroll. I wonder if it's conflicted here. The actual case is I'm not sure if my earned income is sufficient to contribute Roth 403b + Roth 457b + Roth IRA, considering that I'm in pretty low tax bracket right now.
Thank you for your help!
