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I'm getting divorced after 14 years of marriage and suddenly find myself out of 1/2 of my 401k savings. I'm 46 and need some advice on how to rebuild my retirement savings?

Aug 20, 2012 by Dane from Rollingbay, WA in  |  Flag
4 Answers  |  23 Followers
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6 votes

First, try to identify your goals. Are they reasonable and attainable? Next, identify and prioritize the obstacles and risks to your goals. For example, income tax was an obstacle, in a sense, that you might have successfully dealt with by deferral in the past. Divorce, though, was a risk that worked against income tax deferral in that your tax deferred assets were subject to ERISA's spousal protections. Carrying this example forward, you might need to evaluate these same two factors and try to prioritize them. If another marriage and then the "risk" of divorce were the greater risk, you might weight more of your assets to separate and sequestered title, for example, using a trust, rather than income tax deferral. If both were equal, you might consider a pre-nupt or some other way to protect against both risks prior to another marriage. These are just examples, possibly seemingly unlikely. There are many other risks to consider. The point is to go through this sort of process before rushing into a product or strategy decision.

View all 18 Comments   |  Flag   |  Aug 20, 2012 from Raleigh, NC
Bayer

It's no longer news that Dr Benson is a man sent by to help the lonely. Oppressed, deserted and broken hearted. It was recently I saw a comment of how this help helps restore lost relationship in a very shot while and I have been depressed for long after I lost my husband to another woman. I made contact with and I was to told that I will get result in 2 days but o actually don't believe that I have heard that from others whom I contracted and yet nothing but for my greatest surprise it all happened as promised and I couldn't hold this joy so I had to resulted to this blog to talk about the goodness shown to me by Dr Benson, if you are lost or confused worry no more and contact Dr Benson via drbensonspellcaster09@gmail.com, what's-app or call:+2348141972381

Flag |  Dec 02, 2019
grace

OMG!!! I am so proud and happy to be out here sharing your work Dr.Abaka. I just can't believe this now my ex Husband is really back to me on his knees presenting a ruby rose to beg me to take him back and he was feeling regretful and sorry for leaving me and for causing me pains after the divorce which occurred last year. And this whole miracle happened after I ordered an urgent 24 hours Dr.Abaka powerful spell which he cast on me and my husband. Sir, I am the happiest woman today in this whole wide world. Dr. Abaka, you really did it..Yes.. Its a miracle and everlasting pleasure and cheerfulness for me and my family today.. I am so happy now and i don't know how much to convey my thankfulness and appreciation to you sir. And to the whole world, contact him if you need urgent help now because it's guaranteed that he will help you. Email him (drabakaspelltemple@gmail.com) Add him up (WhatsApp him +2349063230051.

Flag |  7 days ago

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6 votes

Best wishes in your new life. Here are a few quick ideas to be considering.

  1. Work out a personal budget and track your expenses. Often times new divorcees completely mismanage their budget because they are not used to the new income and expense level.

  2. Don't make immediate and large purchases. Stay on budget and get used to the new lifestyle. Besides, you don't want to make an emotionally charged buying decision.

  3. Carry sufficient insurance coverage. Making sure you have proper coverage will decrease your chances of needing emergency funds to cover unexpected health care costs or to replace household goods in the event of a problem.

  4. For your scenario of being realtively young, keep expenses down and try to save any extra funds in a combination of your 401(k), Roth IRA, and brokerage/savings account.

  5. Remember that you probably received a share of retirement benefits during the divorce and you may be able to claim a portion of your spouse’s social security benefits once you are eligible for benefits.

View all 11 Comments   |  Flag   |  Aug 20, 2012 from Austin, TX
Bayer

It's no longer news that Dr Benson is a man sent by to help the lonely. Oppressed, deserted and broken hearted. It was recently I saw a comment of how this help helps restore lost relationship in a very shot while and I have been depressed for long after I lost my husband to another woman. I made contact with and I was to told that I will get result in 2 days but o actually don't believe that I have heard that from others whom I contracted and yet nothing but for my greatest surprise it all happened as promised and I couldn't hold this joy so I had to resulted to this blog to talk about the goodness shown to me by Dr Benson, if you are lost or confused worry no more and contact Dr Benson via drbensonspellcaster09@gmail.com, what's-app or call:+2348141972381

Flag |  Dec 02, 2019
grace

OMG!!! I am so proud and happy to be out here sharing your work Dr.Abaka. I just can't believe this now my ex Husband is really back to me on his knees presenting a ruby rose to beg me to take him back and he was feeling regretful and sorry for leaving me and for causing me pains after the divorce which occurred last year. And this whole miracle happened after I ordered an urgent 24 hours Dr.Abaka powerful spell which he cast on me and my husband. Sir, I am the happiest woman today in this whole wide world. Dr. Abaka, you really did it..Yes.. Its a miracle and everlasting pleasure and cheerfulness for me and my family today.. I am so happy now and i don't know how much to convey my thankfulness and appreciation to you sir. And to the whole world, contact him if you need urgent help now because it's guaranteed that he will help you. Email him (drabakaspelltemple@gmail.com) Add him up (WhatsApp him +2349063230051.

Flag |  7 days ago

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5 votes

Dane Sorry to hear about your marriage. If you have children determine if you can file your taxes as Head of Household. Next, be sure to change the beneficiary on your 401K and any life insurance policies and IRA's. You still have 20 plus years of earning potential so don't stress too much. It is a time to reestablish your budget and determine a good deferral percentage and depending on your earnings level a Roth IRA may be possible. Make sure you rebuild your emergency cash reserves. Mark Schreiber CPA

View all 13 Comments   |  Flag   |  Aug 20, 2012 from St Louis, MO
Bayer

It's no longer news that Dr Benson is a man sent by to help the lonely. Oppressed, deserted and broken hearted. It was recently I saw a comment of how this help helps restore lost relationship in a very shot while and I have been depressed for long after I lost my husband to another woman. I made contact with and I was to told that I will get result in 2 days but o actually don't believe that I have heard that from others whom I contracted and yet nothing but for my greatest surprise it all happened as promised and I couldn't hold this joy so I had to resulted to this blog to talk about the goodness shown to me by Dr Benson, if you are lost or confused worry no more and contact Dr Benson via drbensonspellcaster09@gmail.com, what's-app or call:+2348141972381

Flag |  Dec 02, 2019
grace

OMG!!! I am so proud and happy to be out here sharing your work Dr.Abaka. I just can't believe this now my ex Husband is really back to me on his knees presenting a ruby rose to beg me to take him back and he was feeling regretful and sorry for leaving me and for causing me pains after the divorce which occurred last year. And this whole miracle happened after I ordered an urgent 24 hours Dr.Abaka powerful spell which he cast on me and my husband. Sir, I am the happiest woman today in this whole wide world. Dr. Abaka, you really did it..Yes.. Its a miracle and everlasting pleasure and cheerfulness for me and my family today.. I am so happy now and i don't know how much to convey my thankfulness and appreciation to you sir. And to the whole world, contact him if you need urgent help now because it's guaranteed that he will help you. Email him (drabakaspelltemple@gmail.com) Add him up (WhatsApp him +2349063230051.

Flag |  7 days ago

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0 votes
Rich Winer Level 20

Dane, I'm a little late to this discussion but I wondered how you're doing. Have you received good advice, perhaps from a local financial advisor? Have you used any of the advice my colleagues provided? Have you begun to rebuild your retirement savings? I would love to know.

View all 34 Comments   |  Flag   |  May 01, 2013 from Woodland Hills, CA
Bayer

It's no longer news that Dr Benson is a man sent by to help the lonely. Oppressed, deserted and broken hearted. It was recently I saw a comment of how this help helps restore lost relationship in a very shot while and I have been depressed for long after I lost my husband to another woman. I made contact with and I was to told that I will get result in 2 days but o actually don't believe that I have heard that from others whom I contracted and yet nothing but for my greatest surprise it all happened as promised and I couldn't hold this joy so I had to resulted to this blog to talk about the goodness shown to me by Dr Benson, if you are lost or confused worry no more and contact Dr Benson via drbensonspellcaster09@gmail.com, what's-app or call:+2348141972381

Flag |  Dec 02, 2019
grace

OMG!!! I am so proud and happy to be out here sharing your work Dr.Abaka. I just can't believe this now my ex Husband is really back to me on his knees presenting a ruby rose to beg me to take him back and he was feeling regretful and sorry for leaving me and for causing me pains after the divorce which occurred last year. And this whole miracle happened after I ordered an urgent 24 hours Dr.Abaka powerful spell which he cast on me and my husband. Sir, I am the happiest woman today in this whole wide world. Dr. Abaka, you really did it..Yes.. Its a miracle and everlasting pleasure and cheerfulness for me and my family today.. I am so happy now and i don't know how much to convey my thankfulness and appreciation to you sir. And to the whole world, contact him if you need urgent help now because it's guaranteed that he will help you. Email him (drabakaspelltemple@gmail.com) Add him up (WhatsApp him +2349063230051.

Flag |  7 days ago

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