401ks and Bankruptcy

I have heard a lot of people talking recently about how they will raid their 401k and other retirement accounts if they lose a job, or are otherwise unable to work.  While I think that kind of self reliance is an admirable personal trait of America, it is one that comes with a lot of costs to those who exercise it.  The reason for this is because many of the courts in the US will exempt your retirement accounts from your bankruptcy filing. (more…)