Yes, you can contribute to both retirement options, the 401k IRA accounts, at the same time. In fact, many people like to do this so that they can get the best of both worlds by taking advantage of the different perks each time of account has to offer, and diversify their investments a bit more. With a 401k you want to take advantage of, at least, the 401k contribution match that many employers offer. It?s only a few percent of your income, but when those contributions are combined it really adds up. With an IRA you can take advantage of having control over all of your investment options, including the ability to open a Roth account.
Source: http://www.joesdesign.org/finance/can-i-contribute-to-a-401k-and-an-ira/
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