The best answers to financial questions are customized to your situation, which is uniquely personal. The answers depend on the specifics of your life and financial circumstances, and on your feelings and values. So there is no way around it, we’ve got to get into the details and have the whole picture to provide quality advice.

Consider this question on the Vibrant Nation “Work and Money” forum:

Almost 2 years after our divorce and they finally divided his pension…NOW, WHAT??

I was a stay at home mom for 39 years, He’s paying me alimony for another 8 years..I’ve been unemployed more than employed lately…but getting ready to start a new PT job soon…

What are your ideas about my share of the money…I have three options:

  1. Leave it there and collect 6 percent interest
  2. Roll it over or
  3. Withdraw it and pay huge penalties.

I’m 52 now and not sure how long I will be able to work…I’m in good health, except for a weak back….Any suggestions will be appreciated…TY

This person is sharing an amazing challenge and is on the path to success. Why? Because she is asking the questions.

To help her, however, we have to dig deeper into her individual situation. How much is the alimony? What is the salary for the new job? Did she get saddled with the house, and how much does that cost? Is there anything else that creates a nest egg? Retirement savings?

As far as I know, TY is not a SUM180 subscriber, so we do not have this detail. However, let’s assume that the alimony has been right-sized to her on-going expenses, including her house. And let’s assume she does not have a lot of other savings because she would have said so if she did. It would probably behoove her to take some time to get settled into the new job and to a lifestyle that ensures she is able to save about 10% of her income, month in, month out. Then, later, dive into the question of where to roll the money, when that question can be answered in the context of her total financial picture, including the new savings she has been building up.

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