Generating immediate income after divorce
Monday, September 30th, 2013 and is filed under Uncategorized
Getting back on one’s feet after divorce can be challenging and stressful –– especially for women who have been out of the workplace for years taking care of family. Here’s an example of how Cathy helped one woman through a very difficult time.
Janet was a stay-at-home mom her entire marriage. After turning 48, she and her husband divorced. Because of her extended time out of the job market, Janet had few marketable skills and all of a sudden she had bills, with no job prospects in sight. She was desperate. However, Cathy was able to show her how she could get back on her feet by using a portion of her divorce settlement to generate immediate income while avoiding the IRS penalty for early withdrawal. Cathy placed the remainder of her settlement––including assets secured through her QDRO––in a deferred plan to help set her up for a more comfortable retirement with guaranteed lifetime income and principal protection.
If you are facing a similar situation, we urge you to give Cathy a call as soon as possible. With her years of experience in incoming planning, Cathy can show you smart options that may help you through trying times.