My son will max out his employer sponsored Roth 401K, Can he also have an IRA for the same year?
Hmm, I just found this in Investopedia.
"One financial strategy, for those who want the max in tax-advantaged savings: open both types of Roth accounts. Between the two, you can invest up to $25,500 in 2021 ($26,500 for 2022) into a Roth 401(k) and Roth IRA—or even more, if you've hit the age-50 threshold by year's end."
If you find more supporting evidence, please post.
Hmm, I just found this in Investopedia.
"One financial strategy, for those who want the max in tax-advantaged savings: open both types of Roth accounts. Between the two, you can invest up to $25,500 in 2021 ($26,500 for 2022) into a Roth 401(k) and Roth IRA—or even more, if you've hit the age-50 threshold by year's end."
If you find more supporting evidence, please post.