If I already have a 401K and I am now with a different company, can I make a Roth IRA with the new company and add what I already have to it?

Investing
#1

If I already have a 401K and I am now with a different company, can I make a Roth IRA with the new company and add what I already have to it? Would it be worth opening up a Roth IRA if I will only be there for 2 more years?

#2

Hey @Jackie_Mcguffin!

I think you’re confusing IRAs and 401ks. Take a look at this post:

  • 401ks are employer sponsored accounts
  • IRAs are individual accounts

You can have each of them. So you can have a Roth IRA and contribute up to $6,000 every year. This has nothing to do with your employer. You had a 401k with your old employer. Does your new employer offer a 401k? If so, yes, it’s worth signing up for it!