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re: How should I invest extra cash?
Posted on 1/25/13 at 5:39 pm to Fat Bastard
Posted on 1/25/13 at 5:39 pm to Fat Bastard
My advisor says I will not be eligible for a traditional Ira because of my 401k plan. Is this accurate?
I already invest in real estate but took a beating on my last deal.
I already invest in real estate but took a beating on my last deal.
1
Posted on 1/25/13 at 6:04 pm to Lookin4Par
You can always contribute to a traditional Ira up to $5k if you're under 50 regardless of your 401k. What he may be talking about is that you can't deduct your contributions from taxes. People who don't participate in qualified retirement plans can deduct contributions to a traditional Ira.
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