Anyone in MI, who gets FS and has a 401k?
They have NEVER wanted to know the 'worth' of the 401k my husband has through his employer. It's not like we can take that money and live on it... it's meant to help prevent him from having to live on the government when he's an older fart.
We weren't qualifying for FS for a while, because of an asset issue. We had property we could not live on, and so it disqualified us.. fine... whatever. We scraped by with me simply not eating breakfast or dinner many days.
The property is now gone. All of a sudden, they want my hubby's 401k info. As if we could take all that money, and suddenly live life on the high end! We can't take that money! Not without HUGE penalties, and then paying outrageous amounts of taxes on it (that we'd have to pay at tax time), and then in 15 years, when my husband is too old to work, he'd have nothing to live on. My husband is already 41 years old. It's not like he's got a long time to retirement... He's already guaranteed to have arthritis in his shoulder from an auto accident, and struggles with a work related back injury now.
I'm just pissed. I feel like she is trying to find any way possible not to help us.
Does anyone else have to claim their 401k? It's not like my husband makes a huge contribution to it. His employer makes a contribution to it, which helps in it's building.