Roth IRA contributions


Q. I am in the military and have a Thrift Savings Plan account set up. I put 10 percent of my paycheck a month into that account. Can I also put $5,000 into a Roth IRA if I am already doing the TSP, or is it a max contribution of $5,000 between them?

A. Your eligibility to contribute to a Roth IRA will depend upon a number of factors, including your age, marital status, income and eligibility to participate in an employer-sponsored retirement plan, like TSP. See IRS Publication 590 for details, or ask your tax preparer for help in determining the limits that apply to you.


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Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to and view his blog at

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