3 ms·
> Your home, your 401k, is easy pickings for a bankruptcy court. Your 401k and retirement accounts ( pensions, IRAs, trust funds, etc ) are legally protected f
by elfexec 7y ago
> Your home, your 401k, is easy pickings for a bankruptcy court.
Your 401k and retirement accounts ( pensions, IRAs, trust funds, etc ) are legally protected from bankruptcy or legal judgments. In some states ( like florida ), even your home is protected from bankruptcy or legal judgments. Otherwise OJ Simpson who be homeless begging on the street rather than playing golf every other day.
Medical issues can be a source of financial distress for sure, but your statement about 401k is simply not accurate.
- ThrustVectoring 7y agoIRAs are state-dependent, not all states have an unlimited IRA exemption.