Did you know that 45% of Americans cash out their 401(k) retirement accounts when they leave their employers? Do you know that when you cash out your account before the age of 59 ½ that your withdrawal is not only taxed like regular income but also subject to a 10% early withdrawal penalty?

The decision to cash out your 401(k) when you leave a job should not be made lightly. Are there any times you should cash out you 401(k) early? Perhaps. Here’s when cashing out might be okay, and what to do when you shouldn’t. [...]

Phew! I finished my site updates last night and was able to get to bed at a decent hour. I’ve settled on this new site design (sorry for the recent testing). I hope it provides you a with a cleaner, simpler, and more pleasant reading experience.

Also, anybody subscribed by email should get a confirmation for the new subscription this morning. I apologize for this step and thank you for your continued interest. Now, onto my favorite posts this week. [...]

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A bad economy (can we call it a recession yet?) and worry go hand-in-hand. Case-in-point: My employer announced layoffs yesterday. I’m safe, but I immediately grew worried. Then I reminded myself of the advice I gave on Tuesday in a post about identity theft—worry only about what you can do something about.

I can keep showing value to my employer—but if they decide to axe me anyway, what else can I do? Here’s what you can do about your finances (and what you should worry about) and what you can’t do anything about (and shouldn’t worry about). [...]

Quicken Online, an online budgeting tool based upon the popular personal finance software, is now competely free. [...]

Landing a new job is never a cakewalk, but today’s tough economy is sure to make it especially difficult. Whether you are fishing for a first job out of school, recently laid off, or just ready to make a change, being prepared and having the right attitude can give you an edge in today’s competitive job market. [...]

Have you heard the phrase “pay yourself first”? If not, listen up. This one financial trick alone could be the most powerful way to turn your finances around. [...]

Are you a cold-blooded killer? I hope to be. I wake up some mornings in a cold sweat because for the past ten years, I’ve been in an abusive relationship. My abuser? Lots and lots of debt. I’d never advocate killing a person, but I do advocate this: Murder your debt. And start planning now. If you’ve been carrying debt around for a while saying you’ll make a plan to pay it down soon…that time must be now. Unless you like living really dangerous, the global economy is just too uncertain for you to be in debt. [...]

The Wall Street Journal is running this article today: Ten Ways to Protect Your Finances From the Crisis. I agree with most of the suggestions, but I’m adding a few tips for us younger folks without big investment portfolios and perhaps without homes. Here’s a break down of the Journal’s advice and my two cents. [...]

I use an American Express charge card—not a debit card, credit card, or cash—for 95 percent of my purchases. Why?

Because American Express charge cards provide all the benefits of a credit card—convenience, rewards, fraud and purchase protection, etc.—with one vital difference: The balance-in-full is due at the end of every month, meaning I will never rack up a balance I can’t repay. [...]