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Asked 2/13/2009

I own a 401K, What percentage can I put toward an IRA

I would like to contribute to an IRA, I have been told it has a limit because of my 401K

 
 
 
 
 
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Answer 1/1 - Submitted 2/14/2009

What you contribute to a 401K has no bearing on your IRA contributions and vice versa. You can max out the contribution limits for both.

Here is a link to maximum contribution limits for these accounts:
http://www.themoneyalert.com/Retirement-Plan-Limit s.html

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