So, I retired from Publix supermarkets with 71k in an esop and 16k in my 401k also all in Publix stock. I'm 35 and have about 7k in debts with no way to pay down and get my credit in line to start looking to buy a house in a few years.
I am considering taking the disbursement on the esop which you can only disburse in its entirety as Publix stock certificates. I was going sell back 10k worth for cash to cover the debt and the added tax burden (ten percent early withdrawal penalty and the added income still keeps me in the 22 percent tax bracket) my understanding is that I can avoid tax penalty on the rest of the disbursement if I roll it over into a qualified retirement account, but finding someone that will hold Publix stock is damn near impossible.
Any suggestions or corrections to my assumptions?
Submitted October 09, 2019 at 10:47PM by GonadTh3Barbarian https://ift.tt/322pRMD
