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Using 401(k) assets to pay for expenses during the divorce process can be costly. If you are under 59 ½ years old, you may have to pay income tax and a 10% penalty on the withdrawal. It may be a better option to take a loan against the 401(k) up to maximum of $50,000. But […]
Fidelity’s Divorce and Money Study provides some important insights regarding the effects of divorce on the financial and emotional well-being of couples. Being involved and engaged in financial matters during the marriage provides an advantage for dealing with the divorce and for recovering after the divorce. Read more about the study.