401k and Roth limit, can u do both
have client who is making 64k in the Army. She elects to have $900 per month taking out of her pay for 401k. She then funds the Roth up to the max of 5k per year and then 6k this year.
Is this okay to do or is she over any limits by doing both?
Thank you,
Douglas
Permalink Submitted by Alan - IRA critic on Mon, 2014-10-27 17:13
She is not over any limits and can contribute to both. The Roth max is 5500 for 2013-2015 plus an additional 1000 for any year she has reached age 50.