Comments on: 2011-2012 Roth 401k and Roth IRA Limits http://www.mydollarplan.com/roth-401k-and-roth-ira-limits/ because money doesn't grow on trees Thu, 09 Feb 2012 14:28:55 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Mojito Chica http://www.mydollarplan.com/roth-401k-and-roth-ira-limits/#comment-120398 Mojito Chica Tue, 20 Dec 2011 00:53:04 +0000 http://www.mydollarplan.com/?p=1370#comment-120398 Do the 401k contribution limits include employer contributions? Do the 401k contribution limits include employer contributions?

]]> By: Madison http://www.mydollarplan.com/roth-401k-and-roth-ira-limits/#comment-88533 Madison Thu, 09 Jun 2011 14:07:14 +0000 http://www.mydollarplan.com/?p=1370#comment-88533 Terri, They are actually both correct. The limits are $16,500 for a 401k (Roth 401k, traditional 401k, or a combination of both) and $5,000 for an IRA (Roth IRA, traditional IRA or a combination of both). 401ks and IRAs each have separate limits. It gets confusing because there are Roth and traditional accounts for both the 401k and IRA. Terri,
They are actually both correct.

The limits are $16,500 for a 401k (Roth 401k, traditional 401k, or a combination of both) and $5,000 for an IRA (Roth IRA, traditional IRA or a combination of both).

401ks and IRAs each have separate limits. It gets confusing because there are Roth and traditional accounts for both the 401k and IRA.

]]> By: Terri http://www.mydollarplan.com/roth-401k-and-roth-ira-limits/#comment-88498 Terri Thu, 09 Jun 2011 00:18:16 +0000 http://www.mydollarplan.com/?p=1370#comment-88498 The last two answers on this page appear to contradict one another. Answer to Alan: Yes, you can contribute both the $16,500 to a Roth 401k and $5,000 to a Roth IRA. Answer to Mark: The total of the traditional 401k and Roth 401k added together cannot exceed the $16,500 limit. Which is correct???? The last two answers on this page appear to contradict one another.

Answer to Alan: Yes, you can contribute both the $16,500 to a Roth 401k and $5,000 to a Roth IRA.

Answer to Mark: The total of the traditional 401k and Roth 401k added together cannot exceed the $16,500 limit.

Which is correct????

]]> By: Madison http://www.mydollarplan.com/roth-401k-and-roth-ira-limits/#comment-58839 Madison Fri, 31 Dec 2010 19:31:23 +0000 http://www.mydollarplan.com/?p=1370#comment-58839 Alan, Yes, you can contribute both the $16,500 to a Roth 401k and $5,000 to a Roth IRA. Alan,

Yes, you can contribute both the $16,500 to a Roth 401k and $5,000 to a Roth IRA.

]]> By: Alan http://www.mydollarplan.com/roth-401k-and-roth-ira-limits/#comment-58831 Alan Fri, 31 Dec 2010 19:21:03 +0000 http://www.mydollarplan.com/?p=1370#comment-58831 Does my contribution to a Roth 401K affect the maximum I can contribute to a Roth IRA? Specifically, can I contribute both 16.5K to the Roth 401K and 5K to the Roth IRA in 2011? Does my contribution to a Roth 401K affect the maximum I can contribute to a Roth IRA? Specifically, can I contribute both 16.5K to the Roth 401K and 5K to the Roth IRA in 2011?

]]> By: Madison http://www.mydollarplan.com/roth-401k-and-roth-ira-limits/#comment-58807 Madison Fri, 31 Dec 2010 18:37:56 +0000 http://www.mydollarplan.com/?p=1370#comment-58807 Mark, The total of the traditional 401k and Roth 401k added together cannot exceed the $16,500 limit. Mark,

The total of the traditional 401k and Roth 401k added together cannot exceed the $16,500 limit.

]]> By: Mark http://www.mydollarplan.com/roth-401k-and-roth-ira-limits/#comment-53981 Mark Tue, 28 Dec 2010 05:22:21 +0000 http://www.mydollarplan.com/?p=1370#comment-53981 The company I work for offers both the 401K and Roth 401K. I'm 43. Is there a maximium limits for both or can the total of both not exceed $16,500 annual? The company I work for offers both the 401K and Roth 401K. I’m 43. Is there a maximium limits for both or can the total of both not exceed $16,500 annual?

]]> By: Chris http://www.mydollarplan.com/roth-401k-and-roth-ira-limits/#comment-22575 Chris Sun, 14 Nov 2010 17:14:45 +0000 http://www.mydollarplan.com/?p=1370#comment-22575 Good info. I had forgotten that you could wait till April 15th to contribute to your IRA for the prior year. I'll have to take advantage of that! Good info. I had forgotten that you could wait till April 15th to contribute to your IRA for the prior year. I’ll have to take advantage of that!

]]> By: Chris Gagner @ SmartPF http://www.mydollarplan.com/roth-401k-and-roth-ira-limits/#comment-21766 Chris Gagner @ SmartPF Sat, 06 Nov 2010 13:44:09 +0000 http://www.mydollarplan.com/?p=1370#comment-21766 Using a Roth IRA for retirement is a great plan, especially if you're young like me. I love the idea of having tax free withdrawals!! It's a shame that the IRA limits didn't go up this year, but it should have been expected. With very little inflation this year, nothing really went up. Using a Roth IRA for retirement is a great plan, especially if you’re young like me. I love the idea of having tax free withdrawals!! It’s a shame that the IRA limits didn’t go up this year, but it should have been expected. With very little inflation this year, nothing really went up.

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