SEP IRA

Posts Tagged ‘divorce’

Question: Can SEP or IRA be attached in CA for non payment of Alimony?

I can no longer pay Alimony as I have been out of work for close to a year. If I stop paying can my SEP or Rollover IRA be attached or garnished for non payment of Alimony by the Family Court if she files a contempt of court motion? The divorce decree was in CA and X lives there but I am out of state.

Answer: You don’t just stop paying. You file with the court to have your payments suspended.

Your attorney can tell you for sure whether these assets can be attached. California courts have always been aggressive so the risk is there.

Unlimited Power – Anthony Robbins

Question: How am I doing as far as financially and for retirement?

I am 51 years old Internist making about $160,000 a year in a very stable group practice.

I have about $400,000 in SEP IRA and regular IRA when I used to be self employed. Most of it are in Vanguard Target retirement fund 2025.

My home is completely payed off and worth about $280,000.

I contribute max to my current 401K, and have about $300,000 in cash.

I have no kids and divorced. No alimony. I have zero debts.

How am I compared to other 51 year olds?

Will I be OK for retirement when I’m 65? I’m planning to keep working part time after 65 as well.

Thanks for any input. Current economic condition has me a little bit scared.

Answer: i think you are fine, your house is paid off, you have savings or cash that you can get too if you need it, but do you seriously see yourself going through the 300k in a year? cause i really wouldn’t think so on top of that you still have 14 years to retirement because you are making fairly good money and your house is paid off that’s a bill that the money can be earmarked for your savings..i think you are doing great and hope to be near that mark in a few years….the first answerer obviously has quite a higher standard of living…but as long as you aren’t planing on being her neighbor…carry on….

Dita conferenza Jamboree (single)