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Unfortunately, most Americans don't know that bankruptcy courts will almost always protect retirement savings. If you're staring down a giant health care bill a
by staticautomatic 8y ago
Unfortunately, most Americans don't know that bankruptcy courts will almost always protect retirement savings. If you're staring down a giant health care bill and have only retirement funds to pay for it, you should just file for bankruptcy. You'll almost certainly come out of it with your retirement savings intact.
- ThrustVectoring 8y agoIt's state dependent and retirement account dependent, too. 401(k) and other employer sponsored plans have better protection than IRAs. Texas, for one, has unlimited protection for IRAs, as well as protection on accounts funded by withdrawing from your IRAs.