What to do with 401k
Hello Terry. I enjoy listening to you on WGN radio.
I would like your advice.
My husband is 62 and on Social Security Disability for the last 2 years.
I am 60 and unemployed.
House, cars all paid off and zero credit card debt
We live comfortably on his $3,000 disability each month.
We have 8,000 in savings.
We have a 401k worth 70,000 right now.
What should we do with it. Leave it, cash it in and turn into treasury bills I hear you talk about for Approx 5 Percent? Start taking it out and spending it?
Thank you,
Terry Says
Do NOT cash it out! But DO it into an IRA per instructions in this article:https://www.terrysavage.com/rollover-now/
When you do the rollover put at least half in their government securities money market fund, 25% in the short-term bond fund, and 25% in the Equity-Income fund.
Let it grow tax-deferred as long as you can without touching it!
