old fashioned
Almost Self-Reliant
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FarmerChick
Super Self-Sufficient
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I would put it back into a retirement fund, rollover.
IF THAT WAS all I had toward retirement, there is no way I would personally take a HUGE loss in disbursement. the amt. lost is very high and taxes are paid on the remaining balance etc. after the fact. for me I can't ever do something like that unless it was a dire dire emergency.
but that is me lol
when Tony was toward layoff etc we chatted about his 401K and if he lost his job we would absolutely not touch it unless to the point of total loss. we would rollover and leave it for retirement....cause way down the road, when we get old, we know we will need that money.
but we are older now, so very few years left to stock up that 401K. if you are younger, you have saving time left...but for us nearing 50, my saving toward retirement is shorter so touching 401K is not an option I would do now for us.
IF THAT WAS all I had toward retirement, there is no way I would personally take a HUGE loss in disbursement. the amt. lost is very high and taxes are paid on the remaining balance etc. after the fact. for me I can't ever do something like that unless it was a dire dire emergency.
but that is me lol
when Tony was toward layoff etc we chatted about his 401K and if he lost his job we would absolutely not touch it unless to the point of total loss. we would rollover and leave it for retirement....cause way down the road, when we get old, we know we will need that money.
but we are older now, so very few years left to stock up that 401K. if you are younger, you have saving time left...but for us nearing 50, my saving toward retirement is shorter so touching 401K is not an option I would do now for us.
TanksHill
Super Self-Sufficient
It sounds like you already have a great plan. I would just sit on anything that's leftover. Keep it as an emergency account.
G
G
MyKidLuvsGreenEgz
Lovin' The Homestead
I agree ... sounds like a great plan you have. Maybe add a cord of firewood or fill up the propane tank? Get a small solar panel for emergency electricity? Small $85 water tank to fill to have for emergencies?
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old fashioned
Almost Self-Reliant
FarmerDenise
Out to pasture
Hang onto as much of it as you can, but buy what you need to help you make it, if you had no income for a year. Most important, think about your mortage payments. What if you couldn't pay it....type of deal. How attached are you to living at your current place...
those are just thoughts on it...
those are just thoughts on it...
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old fashioned
Almost Self-Reliant
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sunsaver
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I would save it as cash, or invest in food or energy security: solar panels, fruit and nut trees. If you have a mortgage, you should put it all towards the principle, unless you are planning to move. Housing prices are declining, and you would take a loss if sold near term. A low yield but guaranteed savings account is the best bet in this economy. Many governments are under pressure to sell their gold. The price of gold could plummet anytime now, if this starts to happen due to the global economic crisis. And get rid of all your credit card debt. Thats like paying 3 times as much for everything. Using a card is the OPPOSITE of shopping for sales.
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