Retirement planning
Hello- I listen to you on WGN and am wondering the best way forward in my current situation. I got laid off from my job, took unemployment and can’t find a job. I took my social security when I was 65 and six months. I have no pension and a 401k that was. $22,000, which I rolled over to an IRA. My spouse is still working and has a 401k. Can we invest some of his 401k into annuities?? Or something that would generate an income??? All the financial help commercials on WGN seem to be geared towards the wealthy, which we are definitely not. Just looking for some advice. Thank you for your consideration.
Terry Says
This is a tough spot. You need personalized advice with a review of your necessary spending and basic income. Taking money out of a retirement plan is only a stopgap. It will run out.
I suggest you contact the National Foundation for Credit Counseling at 800-388-2227.
You may not be in debt— yet— but they will help you create a realistic budget.
And, of course, the real solution is another job. Keep looking!
