Can an individual contribute to both a Roth IRA and a Traditional IRA in the same year?

Sort By:
Most Helpful
October 2016
100% of people found this answer helpful

Yes you can! As long as the total contributed does not exceed $5500 for any one particular year between the Traditional and Roth IRA's.

If you happen to be above the age of 50, you can make a catch-up contribution of up to $6500 into a Traditional IRA or a Roth as well.

One thing I have seen some clients and friends of mine do is actually contribute to a 401(k) and a Roth or Traditional IRA in the same year. In the case of a 401(k), you can stash up to $18,000 a year up to age 50 and after age 50 that increases up to $24,000 a year for a catch-up contribution.  

The great thing about those that have a 401(k) at work is that you are able to save into the 401(k) at the limits described above and also contribute to a traditional, or a Roth IRA, in the same year. So those people that are under age 50 can save $18,000 in their 401(k) and $5500 in their traditional or Roth IRA. Those that are above age 50 can save $24,000 a year in their 401(k) and also save $6500 a year in a traditional or Roth IRA as well.

I have a lot of people ask me if they should put all of their contributions into a Roth or a traditional IRA, and honestly, I like to recommend a little bit of both.

I hope this helps, best of luck to you!

-Josh Brein

President of Brein Wealth Management, LLC in Bellevue, WA

Investment Advisory Services offered through Brein Wealth Management, LLC, a registered investment advisor in the state of WA. Investopedia, LLC & Brein Wealth Management, LLC are not affiliated companies.

October 2016
February 2005
October 2016
October 2016