_what-the-heck-is-an-ira.jpg "What The Heck Is an IRA from irs traditional ira deduction limits Video Screenshot Preview")
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⏲ Duration: 4 min 11 sec
✓ Published: 18-Nov-2020
✓ Published: 18-Nov-2020
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By potentially maxing out an IRA and/or a 401(k) (or any other work-sponsored retirement plan) you can sock even more money away for retirement. Roth IRA's are subject to an income-limit phase out and Traditional IRA's can lose their deduction if you have a 401(k) and earn over a certain amount. But the short answer is -- if you CAN fund a Roth IRA and a 401k, go for it!nnWant to check out your status and see if you can fund an IRA, 401k, or both? Here's a great resource from the IRS: https://ww
By potentially maxing out an IRA and/or a 401(k) (or any other work-sponsored retirement plan) you can sock even more money away for retirement. Roth IRA's are subject to an income-limit phase out and Traditional IRA's can lose their deduction if you have a 401(k) and earn over a certain amount. But the short answer is -- if you CAN fund a Roth IRA and a 401k, go for it!nnWant to check out your status and see if you can fund an IRA, 401k, or both? Here's a great resource from the IRS: https://ww
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