Yesterday I called the office handling my retirement cash-out to see what kind of time line I was looking at in regards to receiving my money. They mailed it yesterday and I should be receiving it today or tomorrow. Woot!
Now the big question is what to do with it. I want to stash some of it away, thus providing me with a fully funded emergency account. I'll need to use some of it to carry me through the next two months until I'm up to speed and only working serving shifts and not hostessing shifts. Not to mention that there are a few big bills that need paying. Some of it needs to be put away for our basement remodeling as Mr. Irony and I are each contributing to that from our retirement accounts.
I guess that means I really need to sit down this weekend and figure out exactly what I owe and to whom. Time to be a responsible adult.
Friday, September 26, 2008
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4 comments:
as a retirement plan guru, can I please ask that you set aside some of it for your taxes next year? sorry if this is butting in but i would guess your retirement plan administrator withholds 20% which may not be enough for your tax liability on the withdrawal (depending on the size of your WD and your income this year....). Ok, off my soapbox now! good luck!!
I agree with the above and
http://beatingdebt.wordpress.com/2008/03/29/what-to-do-with-extra-money/
Worst Case Scenario Alert!!!
You deplete your retirement account (taking a big tax hit) to remodel the basement of your SO's house, who then dumps you for his coffee date, who gets to enjoy the remodeled basement.
This is probably very unlikely, but reading your last few posts, it presented itself.
to anonymous
It's not just my SO's house, it's mine also and you can bet that I wouldn't be moving out. I chose to publish your comment this time but I question why you feel the need to say this anonymously?
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