If I am already investing in a 401k, can I also put money into an IRA ...

What are my options? Can I use a traditional IRA, and my 401k? If I missed contributing to my 401k last year, can I still open an IRA for 2007 before Apr 15? I have a feeling there is a single answer that answers all of these questions for someone in the know! Thanks!

Source: http://rothira.solve-up.com/roth-ira/if-i-am-already-investing-in-a-401k-can-i-also-put-money-into-an-ira-looking-to-shelter-some-income/

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