My husband decided to take out what little $ he had left in his 401-k account due to him needing to have surgery so what we want to no is there any thing we can do with the rest of the $ we have left after his surgery and to invest the $ into a cd or something that will make our $ grow, unfortunately the company he works for now doesnt offer a retirement plan and his $ was in with his previous employer and it really wasnt making any $ and he did loose some, so we dont no what to do or how to invest it again, and yes he did losse more of it when he withdrew it as well, I tried to tell him to just take out what he needed but he just does what he wants, please any advice would be great?
I know a lot of people that have lost all their money they had invested in the 401k plans so honestly it probably wasn't a bad move to take it out. My husband took his out years ago before we were married to pay for medical bills after his son had an accident. He said after having the money in there for ten years it wasn't worth much more than what he put in. I did CD's for the girls while they were in high school as it was the fastet way to grow interest. When the time is up on the cd you can then renew it or keep the money. Only problem with that is that you lose money if you take it out to soon. As for us we have no retirement plan either. We are lucky to pay bills as it is. Too many medical bills to keep up with. And Obama sure doesn't help matters.