I have a 401k from a company I used to work for. My new job doesn't have a 401k. Can I still contribute my income to the old 401k? What if I want to continue contributing to my Roth IRA?
2007-01-09 08:44:44 · 6 answers · asked by bbulzibarr 1 in Business & Finance ➔ Personal Finance
what's your name, handsome?
::wink wink::
i'll be your Roth IRA any day...
2007-01-11 15:49:25 · answer #1 · answered by ♥madluv4tai♥ 2 · 0⤊ 0⤋
You should roll the 401K into an IRA and then you can continue to contribute. As long as you meet the income requirements, you can contribute to the Roth. Talk to a financial planner, they will help you get it set up right.
2007-01-09 16:49:08 · answer #2 · answered by deep5223 4 · 0⤊ 0⤋
No to the 401k...yes to the Roth IRA.
Only eligible employees can contribute to a company plan. Your Roth is yours...do with it as you will.
2007-01-09 16:50:25 · answer #3 · answered by digdowndeepnseattle 6 · 0⤊ 0⤋
Now that you are no longer their employee you cannot contribute, but you can roll it over into an IRA and you should now that you are with a firm that does not have a 401k. You should then contribute on your own. Talk to an investment advisor or bank. They should be able to help you.
2007-01-09 16:49:36 · answer #4 · answered by stick man 6 · 0⤊ 0⤋
No you cannot, but as everyone said....if you roll it over into an IRA account than you can still contribute I believe its approx. $15,000 max a year depending on the type of IRA account
2007-01-09 16:53:34 · answer #5 · answered by unan1m0us 5 · 0⤊ 0⤋
your bast thing to do is withdrawl money from the 401k and put it intoan ira at your bank
2007-01-09 16:49:06 · answer #6 · answered by Anonymous · 0⤊ 0⤋