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I have roughly $72k in my 401k and within the next 2 months or so I am going to be leaving my current employer.
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Just like the title says I am going to be leaving my current employer in the next couple of months. I am getting divorced my ex moved several states away and I want to be closer to the kids. The judge had already told her in a previous court case that she doesn’t get any of my retirement funds.

I am already looking for work in the area that I am going to be moving to but haven’t had much luck. I have a friend that owns his own company and offered for me to be able to work for him even if it’s temporary so that I have some income.

I’ve never had to deal with a 401k or IRA and I’m not sure what to do. I may need some of it to live on (if possible) until I find something permanent. What is the best way to transfer or invest? I would like to invest part of separately and try and grow it more in the stock market. I don’t know enough to do the trades myself but I assume I could pay someone to do that.

Any advice would help and is appreciated.

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Posted
5 years ago