2007-03-08 06:28:39 · 3 answers · asked by ArcticOwl 1 in Business & Finance ➔ Personal Finance
Steve is right, you can have both BUT you are limited in how much you can contribute to them (this year is is $4000, $5000 if playing catch-up). You can not contribute $4000 to one and $4000 to another. The max you can contribute is $4000 between the 2.
2007-03-08 06:48:01 · answer #1 · answered by R Worth 4 · 2⤊ 0⤋
The annual contribution limit is $4000 ($5000 if you are over 50 years old). You can split that into a traditional and a Roth or you can put the entire $4000 into one type or the other.
2007-03-08 14:51:21 · answer #2 · answered by Faye H 6 · 0⤊ 0⤋
Yes. You are subject to the annual limit on IRA contributions, but you can have as many IRA accounts as you like (of whichever type) and divide the contributions however you like as long as your total contribution doesn't exceed the maximum.
2007-03-08 14:33:07 · answer #3 · answered by Anonymous · 0⤊ 0⤋