[autumnraine]

I don’t know, but rather than become homeless, we took out our 401K and took the tax hit.

Sometimes you just have to do what you have to do.

I hate to tell some Freepers, but the job market is terrifying in some places. Where’s over 17% nationwide, in some places it’s over 20%. And what jobs there are, are part time and minimum wage. Not enough to keep a house going.

[texgal]

You know, that has been my thought as well. Should I cash in some of my 401(k) and pay off my mortgage. The penalty will remain the same no matter what but the income tax you pay will be the tax rate in effect when you take the money out. It seems reasonable that if this is going to happen, better to take the tax hit before the Bush Tax reductions are taken away.

I've helped them as much as I can, buying groceries and letting them stay here with me, but it can't continue forever. I'm getting close to retirement and if there are layoffs where I work, the older folks will go first.

[cherry]

think of how many more have had serious hours cut back.....its scary times....