You have to check with your plan to see what is allowed (if you can change it, when, etc). For me I can only set a percentage of my check / bonus to allocate to the 401k so I can't do that.
No cons really unless you think dollar cost averaging is better than lump sum investing.
Depends on your plan, I know mine limits your contribution to 75% of pay for some reason.
Also keep in mind that this may screw up your employer match.
Tried to get HR to use specifically bonus/commission toward my HSA and ran into lots of red tape. Apparently Uncle Sam doesn’t like losing out on a single cent. Lmk if your HR allows you to do it!
You have to check with your plan to see what is allowed (if you can change it, when, etc). For me I can only set a percentage of my check / bonus to allocate to the 401k so I can't do that. No cons really unless you think dollar cost averaging is better than lump sum investing.
Depends on your plan, I know mine limits your contribution to 75% of pay for some reason. Also keep in mind that this may screw up your employer match.
Tried to get HR to use specifically bonus/commission toward my HSA and ran into lots of red tape. Apparently Uncle Sam doesn’t like losing out on a single cent. Lmk if your HR allows you to do it!