Dear Bogleheads,
Question
I have been trying to get this information but does not show up well in my search
If I max out 401K and Roth, Should I open a traditional IRA and contribute if I can afford one? My 2011 MAGI income was less than 103K and If I am seeing it right 2012 will be less as well because I am maxing out my 401K in 2012 which I did not in 2011.
thanks in advance
Traditional IRA?
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Traditional IRA?
by holycow2013 » Sat Feb 09, 2013 12:18 pm
- holycow2013
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Re: Traditional IRA?
by livesoft » Sat Feb 09, 2013 12:23 pm
No you should not. First, if one makes a maximum contribution to a Roth IRA, then they cannot contribute to a traditional IRA. Please read all the pages in this IRS publication: http://www.irs.gov/pub/irs-pdf/p590.pdf
This information has been prepared without taking into account the Sequestration, investment objectives, financial situation and particular needs of any particular person or company.
- livesoft
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Re: Traditional IRA?
by Toons » Sat Feb 09, 2013 12:58 pm
Keep It Simple"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
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Toons - Posts: 2613
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