A community of 30,000 US Transcriptionist serving Medical Transcription Industry
Info on 401K - old and burned out
Posted: May 01, 2011
I don't know if they have just changed things but I rolled over a large amount from my 401K into an individual IRA just this past January. The advisor at ML said that most 401K's did not allow this but that ours did. I had been told in the past that I could get my money "any time I wanted to." I suppose it is possible that so many people have taken money out that they changed the rules but I would check with ML to be absolutely sure.
How lucky you are - Spare money
[ In Reply To ..]I used to have a 401K, but had to cash it in to pay some bills. I can't seem to save anything on our new, "competitive" salaries. How can you do this?
I'm old, that's how - old and burned out
[ In Reply To ..]I work only flex part-time now as I am on Social Security. I made very good money for many years when this job paid very, very well and I worked for some good companies that were eventually bought out by MQ. I'm sure that if I were 20 years younger I would be in the same boat as you and I have no wish to be trite but I do feel your pain. Good luck; I hope you find some other job besides this one.
I already have another job - Thanks for the sympathy
[ In Reply To ..]I'm older, too, and I'm afraid I'll never be able to "retire" with no 401K, no savings, no husband to lean on, no kids to support me. I'm working 65+ hours a week giving me no time to go back to school to find something else. I'll probably work till I die. I just wish I could save some money.
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