My dads' 401k is with Wacovia. My parents divorced in May now..
By ersmommy1
@ersmommy1 (12587)
United States
July 18, 2008 9:49am CST
Wacovia is having financial investigations nation wide. My parents are supposed to split the 401k money each of them needs desperately right now, especially my mom. And they cannot get their money. Anyone els having this difficulty? What would you do?
1 person likes this
4 responses
@DaddyOfTheRose (2934)
• United States
4 Aug 08
That would be a rotten situation. To need money and have the bank freezing the assets. Withdrawing a 401k, however, is also very costly. It should be avoided unless direly needed because of the capital gains tax on what you take out. Ideally, you'd be able to roll it over into your own 401k plan. But, I guess the world isn't always going to be ideal, is it?
@saivenkaat802003 (4823)
• India
19 Jul 08
No none of us, in my family were in such a situation, excepting me.. and it sorry to hear that your parents are legally separated now.
@sedel1027 (17846)
• Cupertino, California
18 Jul 08
Do you mean that they arenot the right age to pull money out of their 401K?
@mtdewgurl74 (18151)
• United States
18 Jul 08
I am sorry to hear that divorce is never easy now not being bale to get the money they need on top of that is awful. I do not do business with Wacovia, Now I am glad I don't, Sorry to hear about your mom and dad splitting that must be difficult for you especially now you have a second child on the way and you probably want them both there to share in your joy. Well I do hope they both get the money they need.
