When you leave a job — whether due to layoff or for any reason — you are often faced with a decision about your 401(k) or other retirement plans. Over time, you may be in the same position as many other employees who have accumulated substantial balances in these employer plans that are designed for tax-advantaged retirement savings.
If so, you may find yourself having to make a decision about whether to keep your 401(k) funds with your former employer, roll them over to an IRA, or pay the taxes and cash out.
Today’s thoughts are personal. In another sense, they are not personal because today’s subject, my father, Dr. L.C. “LaMoyne” Bleich, as objectively as I can say it, had quite an impact in this community. The reason I share these comments now is that this week was the 100th anniversary of his birth. Dad died in August 1985.
The summer of 2002 began as a season of sunshine and expectation, but quickly led to a dark time in our marriage. After losing our baby in the first trimester, our hope of becoming parents was put on indefinite hold.
After a second miscarriage two years later, we began to seek medical advice.
Everything we tried was unsuccessful.
After all the medical tests and procedures, we still were without a baby.
Without any definitive medical reason to explain why we weren’t able to have children, we were at a crossroads.