My husband's new employer is offering a 401k and Roth 401k. The 401k contributions come with a $50/mo employer matching contribution, so we want to max that each month, but aside from that, we would like to contribute the annual limit of $18k for both accounts ($18k for 2017 in total to the 401k and Roth 401k, not $18k in each). But, my husband starts the job on May 1st and his salary will not be large enough this year to make the contributions from his payroll alone.
Outside of the job, we have a well funded personal savings account, and I'm trying to determine if I can write a check from my personal funds to the Roth 401k to cover the difference? I know that Roth 401ks are funded with after-tax dollars, so in theory, my personal funds are already taxed and therefore I would think I should be able to write a check to cover the difference, but I can't find support for it anywhere online (or in the enrollment information we received). Your wisdom is much appreciated!
Submitted April 25, 2017 at 08:10AM by ethow http://ift.tt/2q2njOW
