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Can I have both a SIMPLE IRA and a ROTH IRA? What are the contribution limits for each? - simple ira limits

The Simple IRA is a retirement plan, low maintenance and offers many features of the current K) 401 (without increasing the complexity of the administrative burden and administrative costs. But because the self-business owners or entrepreneurs to move from the side "to a maximum of $ 6500 per year (plus a matching contribution amounts), the net business income
The ideal candidate for a simple self-employed earning less than $ 35,000 per person and has the financial resources available to maximize contributions to pension plans are. With a contribution to a maximum of $ 7470 ($ 6,500 Short-term would be percentage of the deferred choice plus a matching contribution of $ 970) is greater than the maximum amount of a September or a combination of Keogh plan.

JuE combined maximum Traditional IRA and Roth IRA are up to $ 4000 per year or $ 4500 for 50 years and older is limited)