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Reply to "What would you do - job loss edition"
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[quote=Anonymous][quote=Anonymous]I am so sorry you are going through this. It sounds like you are doing really well. Don't worry about the 529-- now that you are down to one income your kid may qualify for financial aid. The month before interest hits, I would pay off the credit card. And yes, put the money she earns into savings. How old are you both? How much in your retirement accounts? Please make sure you are at least getting employer match for your retirement account. Have you adjusted tax withholding? If you are withholding the same amount as last year, you might have too much withheld now that you are down to one income.[/quote] Thanks, I'm 53 and she's 46. We have about $1.5M in retirement funds. My employer contributes a small amount to retirement regardless of what the employee puts in, which is wonderful. I have adjusted tax withholding as well.[/quote]
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