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Asked 1/21/2008

Additional retirement programs

If I participate in a 401K program where I work, am I allowed to invest in other form of retirement funding...such as a retirement IRA?

 
 
 
 
 
Answers

Answer 1/2 - Submitted 11/14/2010

Yes, you can still open a self-directed IRA, such as a Roth IRA, Education IRA or a Simple IRA.

 
 

Answer 2/2 - Submitted 11/15/2010

If you are eligible to participate in an employer's retirement plan (usually 401(k)), depending on your household income, contributions to an IRA might be non-deductible or even not allowed. You would have check the limitations.

 
 
 
 
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