Here's What Happens If You Contribute to a 401(k) and IRA at the Same Time
If you're lucky enough to have access to a 401(k) through your job, you have an important choice to make: Do you keep money in your workplace plan, an IRA, or both? Each account has its pros and cons, so there are merits to spreading your money around between several accounts.
Most workers won't run into any problems doing this, but things can get a little complicated for high earners. Here's what you ought to know before contributing money to a 401(k) and IRA in the same year.
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Source Fool.com