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PRAISE GOD.

Posted by on Jan. 27, 2009 at 2:49 AM
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I am able to cash out my retirement from Home Depot. YAY. I was only 3100. Which after taxes will be about a 2600$ check. So, I am going to pay off any little outstanding bills, spend quite a bit stocking up more and fix my car.

God has been so good to me and my family. I simply don't know what else to say. :0)

Susie

by on Jan. 27, 2009 at 2:49 AM
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Replies (1-4):
luvmysoldier1
by Bronze Member on Jan. 27, 2009 at 7:39 AM
prayed2Bamom
by New Member on Jan. 27, 2009 at 8:37 AM

Sounds like a well thought out plan, I'm glad it worked out for you!

 

ReesesPieces
by Head Admin on Jan. 27, 2009 at 8:51 AM

One word of caution, they take out the taxes, but not the pre-payment penalty that you will get from the IRS come tax time.  So, what would be a very wise thing to do - so you don't find yourself screwed over next year, is to make sure that you put and additional $740 in savings somewhere because you may have to pay it come tax time.  Unfortunately because of those penalties, you end up paying 40% (which in this case is $1240) of what you pull out.  I hate telling people that, but I'd rather you know now instead of get a VERY rude surprise come tax time next year.

SusieD250
by on Jan. 27, 2009 at 1:40 PM

Thankyou all! I appreciate the advice too. :) I plan on saving quite a bit.

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