Re: Contributing to both the Roth IRA and 401(k)
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If you quit your job today, you can roll your 401k into an IRA which can then be rolled into a Roth IRA at another time. Some taxes and penalties along the way.
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Rolling a 401k to a regular (rollover) IRA is free when you leave a job. (no taxes or penalties)
Rolling a regular IRA to a Roth IRA, you have to pay taxes like income. There are no penalties as long as you do it legally.
Obviously this is only true if you do it right and keep the money in retirement accounts; don't cash out of an IRA and re-deposit it. If you're actually going to do this with a lot of money talk to a CPA or a retirement investment advisor to make sure it's done right.
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