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How can you supplement your 401k contribution with personal savings if you did not reach the contribution limit?
Wiki User
∙ 13y ago
Most 401ks do not allow you to use your personal savings to contribute to the account. The only acceptable form of monies either come directly from your payroll or as a rollover into the account. Typically, companies do not allow this simply because they don't accept "After Tax" monies. The monies that come directly from your paycheck are taken out on a "Before Tax" basis however, the funds in your personal savings you have already paid taxes on.
Wiki User
∙ 13y ago
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