Pammie57 Posted October 31, 2019 Share Posted October 31, 2019 Is it allowable for a participant in a 401k plan to max out his ROTHÂ deferrals in the plan, and also contribute to a ROTH IRA for the same year? Link to comment Share on other sites More sharing options...
Lou S. Posted October 31, 2019 Share Posted October 31, 2019 It would be unusual for someone to have enough income to be able to make a max ROTH-401(K) contribution and a max ROTH-IRA contribution but also have low enough income to qualify to make ROTH-IRA contributions. However, if you have someone who fits that specific fact pattern there is no prohibition against it. Link to comment Share on other sites More sharing options...
spiritrider Posted November 6, 2019 Share Posted November 6, 2019 Lou, I'm not so sure that is true. I know several couples maxing out at least one 401k and one Roth IRA. While it may not be common, it certainly is not unusual. It usally represents a 15% - 25% retirement savings rate. I maintained a 15% - 20% rate for most years. That is what allowed me to comfortably retire in my 50s. Link to comment Share on other sites More sharing options...
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