If you've ever wondered if you could be making too much money to contribute to your employer's sponsored retirement plan, chances are that you don't need to worry.  Unlike a Traditional or Roth IRA, there are no upper 401k income limits that will keep you from contributing.  This makes it a very attractive option when you are considering the benefits between the IRA vs 401k. The only restriction is if you are a highly compensated employee (more on this below). In contrast, an IRA is limited by an individual’s modified adjusted gross income (MAGI). If you make too much money, you either won't be allowed to contribute to a Roth IRA or you … [Read more...]