Assuming I am under the income limit for Roth IRA, can I contribute to both a Roth 401 (k) and a Roth IRA?

Answer 1

You limit per year is $15000 in 401K, regardless of roth or regular. That is the limit before employer match.

You can also put $4K in an IRA, regardless of roth or traditional.

Pick one 401K option, and one IRA option.
I think you can do a mix too.

But also, there is no benefit to investing in traditional IRA's if you have a certain income ( I think 50K) and have access to 401K. In those times, you should always pick roth IRA.

This is my understanding. Currently I invest 15K in a traditional 401K and 4K in a Roth.

Answer 2

If you suppose you'll be able to manage to pay for to position cash away for retirement, then commencing now could be an excessively well notion on the grounds that you get the advantage of compounding. A Roth IRA might in general be the excellent alternative for you, on the grounds that it is administratively lovely handy. As yourself-employment revenue grows, appear into the SIMPLE IRA and the SEP-IRA. They would possibly emerge as extra gorgeous as you emerge as extra positive, however they're a bit of extra problematic than a Roth IRA.

Answer 3

Yes... I have.