Multiple Retirement Plans

I make a SEP(simplified employee pension) and a Roth contribution every year. If you are a 401k plan participant, you can still do a IRA contribution too. Many people think if you do one type of plan you can't do the other. There are income limitations for making regular deductible IRA contributions and Roth contributions, but there is no limit for making nondeductible IRA contributions which you could then transfer to a Roth. It is a good idea in retirement to have a source of nontaxable funds like a Roth to draw on because more taxable income increases your medicare costs and taxable social security.