If a savings plan for retirement starts as a Roth IRA, can you change it when you make more income? Would that be productive and smart?

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Posted by Lily Woodbury (MONEY FORUMS: 6, Answers: 3)
Asked on November 17, 2015 10:38 am
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Lily, you can have multiple retirement accounts. If you are no longer eligible to save in a Roth IRA because your income is too high, you start saving in another account. Which other type of account would depend on what you are doing, if your employer offers a 401k or 403b, or if you are self-employed and can save in one of the vehicles for self-employed people.
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Posted by Beth Tallman (MONEY FORUMS: 1, Answers: 61)
Answered: November 17, 2015 5:28 pm