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Author: fedexman Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 25214  
Subject: 401K and divorce Date: 3/5/1999 10:46 AM
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I have a friend of mine (really) who got divorced some time ago. His wife cleaned him out and it has taken him a couple of years to get halfway normal again. It came up in conversation that she even gets a percentage of his 401K when he retires (40%)! but she only gets money calculated between the time they were married and the divorce date. I suggested that he ask his lawyer about rolling his current 401K into an IRA and just let it draw interest,and start another 401K and increase his payments to himself to offset the shorter amount of time. We are still talking 23 years and I just cant see paying this woman all that money if you dont have to. Cut his losses, and start over. I cant wait to hear what the Fools have to say about this one!!! All advice will be forwarded to my poor friend. Thanks.
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