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Financial Question and Answer

Financial Category: Retirement Planning      Location: OK
Posted: 11/11/2009      Approved: 11/30/2009
Number of Replies: 1     Email Copy To: email financial advice


I have about $19,000 in my 401k and I was laid off four months ago. The company I was working for might go out of business. A couple of people have told me I could lose my 401k if the company goes out of business and I should pull it out. The 401k is thru State Farm. I want to pull out about $4,000 after the first of the year and invest the rest in a retirement account with someone else. What should I do?

Answers (click on a reply to view the answer)

Posted Subject Submitted By

2009-12-03You should do a direct rollover to an IRA now, thiRoderick Hausmann

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