Yes, you can contribute to both a 401(k) and an Individual Retirement Account (IRA) simultaneously, subject to certain rules and contribution limits set by the IRS. Contributing to a 401(k) and an IRA can effectively diversify your retirement savings and take advantage of various tax benefits. It's essential to be aware of the contribution limits, tax implications, and other retirement savings options to make the best decision based on your individual financial situation and retirement goals.