Can you max out both a 401k and a Traditional IRA | TigerDroppings.com

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TheWiz
LSU Fan
NOLA
Member since Aug 2007
7621 posts

Can you max out both a 401k and a Traditional IRA



within the same year?






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LSUcam
LSU Fan
Destin FL
Member since Dec 2011
381 posts

re: Can you max out both a 401k and a Traditional IRA


17.5k to 401k and 5k, (or 6k if your 50), given that you have the earned income to show for the contribution.

Yes you can max out both each year.

**edit.. the 17.5k is for 2013. I beleive it's 17k for 2012.



This post was edited on 12/7 at 1:21 pm


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PhillyTide
Alabama Fan
The One Who Knocks
Member since Oct 2011
226 posts

re: Can you max out both a 401k and a Traditional IRA


There is an income limit (like 150k) for the Traditional IRA. After a certain amount, the contributions are not deductible.





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gatorsimz
Florida Fan
cafe risque
Member since Feb 2009
5479 posts

re: Can you max out both a 401k and a Traditional IRA


Yep. 5k max between traditional and Roth though





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TheWiz
LSU Fan
NOLA
Member since Aug 2007
7621 posts

re: Can you max out both a 401k and a Traditional IRA


We're still eligible for our Roths for about another 4-5 years.





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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
30532 posts

re: Can you max out both a 401k and a Traditional IRA


Absolutely. Although if you are maxing your 401 I suggest maxing a Roth instead.





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