Can I Contribute to an IRA If I Have a 401(k) at Work?
Having a 401(k) or similar employer-sponsored retirement can certainly be a nice tool to grow your nest egg, especially if your employer provides a generous matching contribution. Having said that, saving for retirement in an IRA provides some unique benefits, and can be a nice supplement to your 401(k). Here's how to determine if you're eligible, and why you might want to use an IRA to complement your employer's plan.
If you have a 401(k) or similar retirement plan at work, your eligibility to contribute to an IRA depends on your income and which type of IRA you'd like to contribute to -- traditional or Roth.
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Source: Fool.com