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My income comes from alimony lol. I used to work and did have a 401k waaaay back in my 20's. That's 20 years ago. You do have to wotrk to put money in a 401K right?

2007-09-28 14:03:28 · 3 answers · asked by Anonymous in Business & Finance Personal Finance

3 answers

yes 401k's are only available thru a company you are working for

2007-09-28 14:19:32 · answer #1 · answered by Anonymous · 0 0

I am not a tax specialist. You do have to work to put money into a 401(k), but alimony might count to allow you to put money in an IRA. Maybe someone else will jump in.


Note that a ROTH IRA is after tax money. That would not help you. You might be able to put money into a child's 529 or educational savings account.

2007-09-28 21:07:11 · answer #2 · answered by Anonymous · 0 0

A 401(k) is an employee benefit. If you don't have a job, it's not likely you have any employee benefits.

However, there are other options. Contact a financial advisor about an IRA or a Roth IRA. There are other options too, but I'm not very familiar with them.

2007-09-28 21:08:05 · answer #3 · answered by Debdeb 7 · 0 0

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