Today, the rollover information for my former employer's retirement plan arrived in the mail. I haven't been looking forward to seeing that envelope. ABM has been bugging me about it because he wants me to withdraw the money. There isn't much (less than $5000) but I was hoping that we could roll it over to an IRA.
This isn't the first time that I've withdrawn money from a company-sponsored fund. In the past, I haven't felt any qualms about taking the cash. However, I feel uncomfortable doing it this time. I'm very worried about what is going to happen to me in my old age. I have a feeling that ABM is going to die before me and the kids will be working-class like us so they won't be able to support me. I'll have nothing to live on besides Social Security. I'll be working as a greeter at Wal-Mart in my 70s just to be able to eat. That is not what I want for my future.
Talking to ABM about this fear isn't going to do any good. He already believes that I worry too much. Besides, we were struggling financially before I lost my job. I know that we need every penny we can lay our hands on to stay afloat until I find more work. Keeping that money in a retirement fund would be incredibly selfish.