401K & Roth IRA in same year?

[Guest Harrydoodl]

I participated in my employers 401K last year. I left their employment in March after contributing approximately $4000.00. Can I also contribute to a Roth IRA? And if so, how much for 2000?

[wmyer]

Sure, as long as you're not making over the $ limit (about $100 grand) and are not married filing separately. And as long as you're not contributing more than 100% of your income. Remember, the ROTH IRA isn't deductible, so there's no phase-out for deductibility like with traditional IRAs for people who are active in other retirement plans. You have up until Monday, April 16 this year to contribute up to $2,000 to your 2000 ROTH IRA.