When you identify the new company for the IRA, they will be very helpful, because they want your money in their accounts. Your old company will likely not be helpful, as they also want your money in their accounts. I still have some money in TIAA CREF, which I could contribute to because I worked at a university. The money is still mine, but I can't grow it because I no longer work at an educational institution. They have not been helpful about getting it out. I was so annoyed, I put it aside. I should get back to that.
I am a large, semi-muscular man. I can take it. Don't hide behind Mal 'cause you know he'll shoot it down for you. Tell me.
Wash ,'War Stories'
Buffista Business Talk: I wanted simple, I wanted in-and-out, I wanted easy money.
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Vortex - Oct 30, 2018 7:27:32 pm PDT #1369 of 1416
"Cry havoc and let slip the boobs of war!" -- Miracleman
megan walker - Oct 31, 2018 8:38:17 am PDT #1370 of 1416
"What kind of magical sunshine and lollipop world do you live in? Because you need to be medicated."-SFist
Steph, even if they send you the check directly, as others have said, you should be able to do what is called an "indirect rollover" yourself. I think it just has to be redeposited somewhere else within 60 days. You have to report it and you'll get a 1099 from the original $$ holder, but there wouldn't be taxes to pay. If you choose a good mutual fund place (Vanguard, Fidelity) as a destination for the IRA, they can be very helpful with this sort of thing. I had 3 different defunct 401K plans at one point that I just all rolled into in one IRA at Vanguard. They've been great over the years. It's where my initial 401K from when I worked in investment consulting was, and we just profiled their founder in the Business Ethics book I edited, which I think tells you all you need to know re their investment trustworthiness.
Ugh, ND, that is the worst. I hope everything worked out. I'm glad I have no one that depends on me because, here I am, struggling to come up with cash for November rent even though I have 3x my rent due to me by a client I can't bill yet because of a contract snafu. I keep thinking I've solved the cash flow thing and yet...
NoiseDesign - Oct 31, 2018 11:53:52 am PDT #1371 of 1416
Our wings are not tired
Things are slowing working through the system right now and I'm getting some payments coming it. Yeah, it's just a lot when I have a few dozen people depending on me to get this right. At the core of it I'm just a guy with a couple of theatre degrees.
-t - Oct 31, 2018 1:05:12 pm PDT #1372 of 1416
I am a woman of various inclinations and only some of the time are they to burn everything down in frustration
Would a revolving credit line help? We (the corporation I work for) have a factor that pays us up front and then collects from our customers after 90 days or whatever - is there maybe a small business version of that?
NoiseDesign - Oct 31, 2018 4:14:16 pm PDT #1373 of 1416
Our wings are not tired
I do have a business line of credit, and yes, it does help, just not always, and cash flow inevitably hits when the LoC doesn't have room on it.
-t - Oct 31, 2018 6:18:14 pm PDT #1374 of 1416
I am a woman of various inclinations and only some of the time are they to burn everything down in frustration
Ah, that's too bad.
Laura - Nov 05, 2018 5:56:02 am PST #1375 of 1416
Our wings are not tired.
Are there any Buffistas with good knowledge of all things Social Security and Medicare? I am hurting my head trying to make decisions as I approach the big 65 in February.
On the Medicare, it seems to make sense on the surface. I don't take any pharmaceuticals so I just would need some type of supplemental for things like acupuncture and chiropractic which I do like. I've been using an HSA plan for the past few years. This lets me write off purchases of vitamins and pretty much anything closely resembling health care, but I can't contribute to one anymore (apparently) after I turn 65. The health insurance stuff is further complicated by DH being 11 years younger than me. So no more joint plans if I do go to Medicare. But he has different health issues including needing hernia surgery and having RA, so our plan needs are quite different.
On the SS decision making front, I am leaning toward taking my SS in February. Yes, I would get a bunch more when I turn 70, but I can change my business payroll to pay DH a bunch more so that when he gets to retirement age his amount would be higher. I have a bunch of spreadsheets for figuring out that one so I'll probably continue to map out the different options and see what works.
It is all so confusing! Anyway, if anyone knows more about this stuff than I do I would appreciate any thoughts.
NoiseDesign - Mar 03, 2019 3:14:29 pm PST #1376 of 1416
Our wings are not tired
My company is having a rough patch right now due to a very slow beginning of the year. I just had to put together an email to send out to a few folks to try to raise some money to bridge things to get us through the next couple of months. There is some really good work coming, I just need to find a way to get the company there.
That was a very difficult letter to write, and even harder to send.
Sigh.
Shir - Mar 03, 2019 9:31:20 pm PST #1377 of 1416
"And that's why God Almighty gave us fire insurance and the public defender".
I'm sorry, ND.
Laura - Mar 04, 2019 2:56:36 am PST #1378 of 1416
Our wings are not tired.
It is a tough one, ND. I've done it a couple times and it is the worst, but it happens in small business a lot.