USA Combined Contribution Limits To Roth Ira And Roth 401k

[bobbyalp]

I am 66 years old and plan to return to work in near future. Since I already have pension income, the complete purpose for return to work is to contribute to a Roth 401k and a Roth IRA.

Annual salary would be approximately $25,000. Can I contribute $24,000 to the Roth 401K and then make additional $6,500 contribution to a Roth IRA during the same year?

In other words, can the combined contributions to Roth 401K and Roth IRA exceed the total work-earnings for that same year?


Thanks for your help.

 

[Drmdcpa]

No

 

[bobbyalp]

No

Drmdcpa, Thanks for your response. Guess I'll be dividing the year between the IRA contribution and the 401k contribution.