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Getting Personal
Getting Personal
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About the author
Christopher Farrell is economics editor of Marketplace Money, a nationally syndicated one-hour weekly personal finance show produced by American Public Media.
I wish you had actually looked into what happened to Obama's campaign promise to allow $10,000 to be withdrawn from one's IRA without a penalty. Everyone seems to forget about all the people who are now unemployed or underemployed, who's only way to pay their bills now, is to tap into their IRA. There's a lot of new tax breaks for those still fortunate to have an income, but not penalizing the IRA withdrawal was the only tax break for those who don't have an income anymore. They could have at least relaxed the hardship requirements. I wish someone, in the media, with access to the politicians who decide these things, would ask what happened to it. Us common folk won't have access to them until they come up for re-election.
You mentioned a feature of the stimulus package paying 60% COBRA for those unemployed between September 1, 2008 and December 31, 2009. As one who is in this situation, and a lifelong Type 1 Diabetic, I am eager to learn how to apply for this. But I find no information on how to do so on your site or many others. Please finish this story by saying how to acquire this assistance or when and how one should be able to do so.
Thank you : )
I was listening to the program yesterday on AFN in Germany. There was a segment regarding Cobra coverage and how to get signed up for it retroactively....and the comment that the new stimulus bill helps those paying for cobra between jobs. I can't find anything on this website about it. The information is not for me, but for my brother who was layed off, couldn't afford cobra and now has a new job, but his insurance coverage doesn't start for 90 days. Is there someplace you can point me to get the necessary information for my brother?
Thanks, and I love listening to the show. I listen to it here in Germany while making dinner on Sunday evening.
Yeah, right, let folks do what they want with their IRA's 401K's without penalty---BAD IDEA, VERY BAD! Mr. Farrell, period! Live beyond your means is what you're saying (think second mortgage, debts on ten credit cards or so) and we, at least those of us who have a modicum of intelligence know that claptrap advice, such as this, is what has been devastating America today! Fie on you Mr. Farrell, you should know better!
