Dr. Judith Gerhart, CFP
Certified Divorce Financial Analyst 
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Divorce Budgeting Tip 7
July 26, 2009
7. Consider your retirement.
If you’re a parent, you don’t think twice about putting your children first. But when it comes to your personal finances, it’s a good idea to think of your retirement before your child’s college costs. While a university can offer a student scholarships and financial aid, an Individual Retirement Account (IRA) or 401(k) cannot. Just make sure to never cash in your 401(k) plan when you leave a job, even if you can’t keep the plan through your previous employer. If you cash out, withdraw penalties and income tax will outweigh any instant income. Choose instead to roll your 401(k) into a retirement plan such as an IRA.
By: Brian O’Connell
Posted by Judith Gerhart on July 26, 2009 | Permalink | Post a comment
