Oatmeal
NAXJA Forum User
- Location
- Cedar City, UT
After working for the LAUSD for 13 years, I'm facing a lay off.
I don't own a home and I had just put a deposit on one when I found out about my pending lay off.....thank God I was able to get that back.
Unemployment won't even pay my rent....don't fancy living in my car(s), especially with 2 dogs, 4 cats and my GF....so, I'm forced to cash out my 403B and relocate to a state where I could actually afford to live.
I have family and friends in Cedar City, UT and have always wanted to live there (my parents and a nephew are buried there) but, stayed here because I finally had a job that I was going to see a retirement from.....yeah, right!
Okay, where am I going with this?
Cashing out my 403B early is really going to sting and from what I've been hearing I could stand to loose as much as 40% or more!......Jeez, kick a guy when he's down.
Are any of you tax savy and know of any way of minimizing the impact?
Getting kinda of nervous.....I'll most likely be out of a job by around August.
Any and all suggestions appreciated.
Hans
I don't own a home and I had just put a deposit on one when I found out about my pending lay off.....thank God I was able to get that back.
Unemployment won't even pay my rent....don't fancy living in my car(s), especially with 2 dogs, 4 cats and my GF....so, I'm forced to cash out my 403B and relocate to a state where I could actually afford to live.
I have family and friends in Cedar City, UT and have always wanted to live there (my parents and a nephew are buried there) but, stayed here because I finally had a job that I was going to see a retirement from.....yeah, right!
Okay, where am I going with this?
Cashing out my 403B early is really going to sting and from what I've been hearing I could stand to loose as much as 40% or more!......Jeez, kick a guy when he's down.
Are any of you tax savy and know of any way of minimizing the impact?
Getting kinda of nervous.....I'll most likely be out of a job by around August.
Any and all suggestions appreciated.
Hans