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Personal Roth IRA contribution on top of work 401K
I have maxed out my 401K through work. Can I additionally max out and put $7000 (I am over 50) into my personal roth ira?
Thank you!
Yes, according to this IRS link, you can contribute to a traditional or Roth IRA even if you participate in another retirement plan through your employer or business. Roth IRA contributions might be limited if your income exceeds a certain level.
Please view the income levels that limit your Roth contributions here assuming that you wish to do this in 2022.
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