can you do a 401k pland and an ira
If youâre contributing to a 401(k) or other employer plan, you can open a traditional IRA as well, but you may or may not be able to deduct that chunk of savings from your taxes, depending on your income.Still, it does let you save more, and the gains grow tax-deferred.or example: You can fund a 401(k) (or other employer-sponsored plan, including a SEP-IRA) and a Roth IRA. This enables you to save more, and gives you the tax flexibility mentioned above. You can also throw a traditional IRA into that mix.