5 ms·
Yes, but a 401k has an annual contribution limit of 16.5K while an IRA allows only 5.5K in annual contributions. Ideally, having both accounts would give you 2
by willgodfrey 16y ago
Yes, but a 401k has an annual contribution limit of 16.5K while an IRA allows only 5.5K in annual contributions.
Ideally, having both accounts would give you 23K of tax-advantaged savings.