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Extra Check & Retirement

September 5th, 2018 at 01:42 pm

Trying to do some financial planning for husband's job transition.

It appears we will be getting about $1,500 in "extra" money since his current job pays a check behind and also he is cashing in his retirement days.

Don't know exact numbers yet but we plan on paying off both of our monthly credit cards, putting back enough to pay the house & car insurance in full, go out to a nice celebratory dinner, and the rest will probably be put towards either the fence or one of the home credit cards.

We got his 401K numbers yesterday. He currently has $18,167 in his account. We will be rolling this over to the new employer's 401K plan. Both are held at Vanguard so hopefully it will be easy.

2 Responses to “Extra Check & Retirement”

  1. rob62521 Says:

    Not having had a 401K, I guess my question is, would it be better to take the money from your former 401K and move it instead to an IRA instead of the new employer's 401K? I worked in public schools so I funded a 403b. After I retired since it was paying very little, we moved it to an IRA where we were making more interest. I was limited as to where I could contribute my 403b money when working.

  2. snafu Says:

    I hope DH is enjoying his new employe, new colleagues, new job . Can he also roll over sums for 'retirement days?' Will he be charged a penalty [typically associated with retirement category] for those retirement days over and above paying income tax on the sums?
    What had DH chosen to allocate iat Vanguard? New choices?

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