Ask Terry Questions Unemployment

Unemployment

By Terry Savage on August 03, 2020 | Wild Card

My 50 year old son just lost his job today as a CDL truck driver. He also has been doing Door Dash and Instacart to supplement his income. Is he eligible for unemployment?

Also, he has a $5,500 IRA. If necessary, is it advisable to cash that in? THANK YOU!!

Terry Says

Yes, if it was a W-2 job, he should definitely file for unemployment. And he should not use that IRA except as a very last resort!

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