From IRS.gov
2012 limit $5,000 (6,000 - 50 yo or older)
2013 limit $5,500 (6,500 - 50 yo or older)
So, IRA either traditional or Roth combined this year is $5,500 TOPS!
Do contributions for Roth TSP and a Roth IRA count towards the same dollar number? For example, if I contribute $5,500 to my Roth IRA account, can I contribute anything to my Roth TSP account? My initial thought is that this wouldn't be a problem since Roth TSP would fall under 401(k) rules. Before I dump another max contribution into my Roth IRA, I want to ensure I can still make Roth TSP contributions.
Any clarification is greatly appreciated.
From IRS.gov
2012 limit $5,000 (6,000 - 50 yo or older)
2013 limit $5,500 (6,500 - 50 yo or older)
So, IRA either traditional or Roth combined this year is $5,500 TOPS!
THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
Tracker = Check my position
That's good news. Thanks for the help.
Never heard the TSP referred to as Roth TSP.
Edit: Nevermind. Have been out of the service for 4 yrs and it looks like a new program that I'm unfamiliar with.......
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