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re: I need some advice from the financial gurus

Posted on 2/25/24 at 7:41 pm to
Posted by TIGERSby10
Central Lafourche
Member since Nov 2005
6974 posts
Posted on 2/25/24 at 7:41 pm to
quote:

Have you considered finding a new employer? That $19K in after tax health insurance is brutal on your income.


I am about maxed out for my profession (construction estimator). I’m a Chief Estimator for a mid-sized company that only works me about 35 hours a week and I’m close to home. I could go work for a larger company but would have to work many more hours (55 a week) and be further from home, but after having done that for 25 years, when I was diagnosed with cancer, I promised myself I would never do it again. I want to spend more time with my family, in case I don’t have many years left.
Posted by Oenophile Brah
The Edge of Sanity
Member since Jan 2013
7544 posts
Posted on 2/25/24 at 8:35 pm to
You may be eligible for a 401k hardship withdrawal due to the medical bills. You maybe be forced to make your case but what you stated here seems exactly why it was created. It’s probably a taxable event but no additional penalty.
Might be worth investigating.

Sorry about your situation.
Posted by slackster
Houston
Member since Mar 2009
85482 posts
Posted on 2/25/24 at 8:58 pm to
quote:

I could go work for a larger company but would have to work many more hours (55 a week) and be further from home, but after having done that for 25 years, when I was diagnosed with cancer, I promised myself I would never do it again. I want to spend more time with my family, in case I don’t have many years left.


I get it, but if you do have time left, you and your family are looking at financial ruin on this pace. Your follow up posts make it clear this is not a one time fix to your past problems, but an ongoing problem.
Posted by deltaland
Member since Mar 2011
91198 posts
Posted on 2/28/24 at 7:20 pm to
quote:

that only works me about 35 hours a week and I’m close to home


quote:

want to spend more time with my family, in case I don’t have many years left.


I get the spend more time but you also don’t want to saddle your wife with debt if you die. 35 hours isn’t much. Maybe look into a part time weekend job, shift work you can do at a time of day where your family may be busy anyways
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