As Craig mentioned, you can set up a Roth IRA if your income fits the limitation. If you make more than the Roth IRA limit, you can also set up an IRA first, and then look into backdoor conversions. There is no income limit for a traditional IRA, you can always have an IRA and a 401k at the same time. Once the IRA is set up, you can make contributions. Then you can convert this into Roth contribution. There is no limit to the Roth conversion either.
Provided you meet the income limitations of a Roth IRA, you can have a Roth and a 401(k). If your filing status is married filing jointly, and your adjusted gross income (AGI) is $183,000 or less, you can make a $5500 contribution. Anything over $183,000 a phase out begins to occur. If you're married filing separately, a phase that occurs at one dollar to $9999, anything greater than $10,000. You're not eligible for a Roth IRA. If your single, and your AGI is $116,000 or less, you can deduct $5500, anything in excess of $116,000 a phase out begins to occur. Also, if you've maxed out your 401(k) contributions of $18,500, you could make a Roth contribution as well.It's a little confusing, but I hope this was helpful Craig W. Smalley, E.A. - Admitted To Practice Before The Internal Revenue Service
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