Absolutely. You can have as many IRAs as you want. You can have as many 401ks as you want, too, but each one would be from a different employer. My point being in that if you don’t roll over a 401k from a pervious employer it just sits in their 401k program, earning the same that it had been with the elections you chose. What’s nice about this is that many employers pay the fees on 401ks, so leaving the money with a former employer means you could get the benefit of their 401k and they are paying the fees.
In these cases you often get regular “beg” letters that tell you how they’ll gladly assist you with doing a rollover into an IRA or a new employer’s program. -D > On Jan 2, 2021, at 6:04 PM, Curt Raymond via Mercedes <mercedes@okiebenz.com> > wrote: > > Can you do an IRA if you already have a 401K? > I haven't checked but I must be nearing the max for 401K contributions, I've > been pushing it up a percent every year for the last 3 or 4 years... > -Curt > > On Saturday, January 2, 2021, 5:55:49 PM EST, Mitch Haley via Mercedes > <mercedes@okiebenz.com> wrote: > > That's where a Roth IRA does double duty. > It's a lifetime investment that you can draw the deposits out of in case > of emergency. > > On 2021-01-01 15:27, Dan Penoff via Mercedes wrote: >> This is when I get on my soapbox about having an emergency fund. I >> totally understand your rationale, but that notwithstanding, everyone >> should have funds for at least six if not 12 months of living >> expenses. I don’t think I could sleep at night if I didn’t. That >> should be everyone’s first goal. Once you’ve got that, start >> investing… > > > _______________________________________ > http://www.okiebenz.com > > To search list archives http://www.okiebenz.com/archive/ > > To Unsubscribe or change delivery options go to: > http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > > > _______________________________________ > http://www.okiebenz.com > > To search list archives http://www.okiebenz.com/archive/ > > To Unsubscribe or change delivery options go to: > http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > _______________________________________ http://www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
