Meta is cutting 8,000 jobs starting May 20. Before you touch your 401(k), read this — your retirement account is federally protected and your credit card debt is dischargeable. Here’s what to do instead.
Cashing out a 401(k) to pay off debt costs far more than you think. A $40,000 withdrawal loses $304,000 in retirement wealth — here is the math nobody runs.
ERISA plans have unlimited protection. IRAs up to $1.7M. Cashing out to pay dischargeable debt costs roughly $225,000 by age 65.
A wave of class action lawsuits alleges major employers illegally charged tobacco-using employees hundreds per year in health insurance surcharges without offering federally required alternatives. If you paid a tobacco surcharge in the past six years, you may qualify.
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