Have a Finance Question? Ask a Financial Expert Online.
. I think your question must have become truncated ... cut off somehow, by the system.
If you'll get back to me with the rest of your question, I ll be glad to help.
Let me know Lane
My apologies for the lengthy question. Did not see where I was supposed to keep things brief. Guess that is common sense, though. When should I get back with you and may I have access to the info you did receive.
No, you can be as detailed as you like...
I just wasn't sure what the question WAS.
The last line of your questions was... "Tiscontinue putting any monies into my 401K"
Are you asking about how to get dollars out?
or maybe about the taxation of them?
Or about just HOW to stop making contributions?
If you give me a little more detail, I ll be glad to help.
I'll be here waiting...
My husband and I8 years ago transferring the monies into an account in his name only. He did say some of the money could be used to assist me if I had a need. Needless to say, I have been heart broken over this.
Is this legal?
No, he transferred (from his work place ) our jointly held 401K account. Of course, I have not had access to that account, The money he uses is at his discretion .My 401K was used, in part, to keep the household running while he had to maintain a residence in another state. He was required to move by his employer. As you may imagine, my monies are down to very little. Was it legal for him to transfer the 401K into his name only?
I have been both shocked and disappointed by this.
Many thanks foe your interest and follow up .
Do not know if I was very good at asking my questions. My husband retired about 7 years ago and that is when he put the jointly held account in his name only. He did say the money was his and according to your answer, as surprising as it was, he was legally correct. He also puts his Social Security into a separate account which I was not even aware of until about a year after he retired. Mine has always gone into a joint account. Obviously, I was too trusting but witjh the severity of my medical problems, just assumed he would not desert me. I refuse to let this make me a bitter person. Again