Here’s a simple trivia question: Can you have both a 401(k) and an IRA at the same time? You’d be surprised at how many of us don’t know the answer to this one. The truth is, you can have both an IRA and a 401(k). On this MoneyWise, Rob West and Steve Moore have some other things you many not know about individual retirement accounts and why you should have one.
Next, they answer your questions at (800) 525-7000 and email@example.com about the following:
- If you're doing well financially and have been able to save some but have never put money away for retirement, what should you do to start saving?
- Is "day trading" gambling or is it a legitimate use of the stock market?
- If you're getting getting married, should you keep separate accounts or should we combine them?
- If you're receiving an inheritance of $20,000, have $11,000 in credit card debt and 10 years on your mortgage, wat should we do with the money?
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