What do I do?

[fuzzybuddy]

I have $20,000 in a deferred comp. account. The reason there's so little is I became disabled after I started the acct. I'm on SS, and a state ret. plan. I want to take the $20,000 and help buy a new car. As far as taxes go, does it matter if I take the money out over three years or in a lump sum?

 

[Lon]

What was the cost basis of the $20,000?

 

[fuzzybuddy]

Hi, Lon;

I have no idea what you are talking about. It sounds like something I should know. Personal finance isn't my forte.

 

[QuickSilver]

Hi, Lon;

I have no idea what you are talking about. It sounds like something I should know. Personal finance isn't my forte.

I agree.... the response should have been made clearer... Not all of us are as smart as Lon..