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This may be an obvious question but I haven't been able to find an answer yet. Is it possible to add additional money to my 401k that doesn't come from my paycheck? For example, my husband receives bonuses and we want to add it to my 401k. I haven't been able to find a way to do this from my 401k online account.
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I believe that the money has to come from your paycheck. You will need to do a personal IRA or ROTH IRA to add your own "outside" money.Brian -
Assuming you are not already contributing 100% of your paycheck to your 401k, I would suggest just adjusting your contribution as soon as you get the bonuses and then adjusting it back after you've contributed the extra that you wanted to.Comment
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That would be the way to do it as long as you aren't already maxed out, which could be less than 100%. At my wife's job, she couldn't do more than 50% of her pay to the 401k. We wanted to do 100% but they wouldn't allow it.Originally posted by phantom View PostSteve
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I've never seen a 401k that allowed cash contributions.Comment
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Great, thanks for all the helpful info! This is the first year I've ever had a 401k and also the first year my husband has been receiving bonuses.Comment
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