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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: mustachianit on December 18, 2012, 03:56:46 PM

Title: Retirement Funds
Post by: mustachianit on December 18, 2012, 03:56:46 PM
Hello,

Currently my husband has a roth IRA and he gets pension and profit sharing from work.  Could I open a 401k plan for him as well?  Not sure how it works and any help would be agppreciated.

Thank you!!!!
Title: Re: Retirement Funds
Post by: rugorak on December 18, 2012, 06:39:09 PM
In short probably not. You can't do a 401k yourself. His employer would have to offer it. There are some other options if they did not offer anything but since they have a pension system most likely the Roth IRA is all you can do on your own. But hard to say for sure without knowing more about what his employer is offering.
Title: Re: Retirement Funds
Post by: mustachianit on December 19, 2012, 05:22:30 AM
Ok, thank you.  His employer does not offer 401k at all.  They have money they give him each year that they manage.

Thanks again for the response!!!!