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Edited by Christopher Simmons, senior news editor


ALEXANDRIA, VA -- Dec. 13, 2002 /Send2Press Newswire/ --, a website operated by Lamaute Capital, Inc., provides sound financial advice for the unemployed or those in financial trouble that are forced to dip into their once carefully guarded nest egg. The site answers many questions regarding the use of 401k, IRA, or other retirement funds during times of hardship for both the self employed and those who are in between jobs.

The U.S. unemployment rate for November 2002 shot up to 6 percent, according to the Bureau of Labor Statistics. "Right after Christmas nearly 1 million unemployed workers will start losing their jobless benefits" says Daniel Lamaute, CEO of Lamaute Capital, Inc. "That means that a lot of unemployed people may have to rely on their retirement savings to see them through a rough financial period. What offers is guidance on how to tap your retirement savings in ways to escape or reduce paying hefty taxes and penalties." added Lamaute.

The website leads the viewer through possible scenarios and solutions involving early withdrawal of retirement savings to cope with financial hardships. The viewer will find specific details on 401(k) rollovers from a previous employer. Entrepreneurs will also find how they can set up their own individual 401(k) plan and get a loan from it tax-free.

Tools for planning your retirement are available by visiting the website. These include calculators for retirement savings, 72(t) distributions, Roth IRA conversions and several other calculators for determining your net worth, loan payments, and how to plan for withdrawals while minimizing your penalties and taxes. In addition, contains a wealth of information on handling a layoff, debt consolidation, IRA and Roth IRAs, SEP IRAs, SIMPLE IRAs, Keoghs, and the newly established 401k for the self-employed.

Lamaute Capital, Inc. is an investment firm headed by licensed principals each with more than 22 years of experience in the field of pensions and retirement investments. Collectively the firm's principals hold advance degrees in law, taxation, and investment finance. They have represented their nationally recognized practice on CNN's "Your Money", have authored books, and given numerous seminars on retirement and investment planning. They have been quoted in several publications including "Pensions and Investments" and the "Wall Street Journal."

Established in 1993, Lamaute Capital, Inc. is registered under the Securities and Exchange Act of 1934 and is a member of the National Association of Securities Dealers (NASD) and the Securities Investors Protection Corporation (SIPC).


Source of news: Lamaute Capital, Inc.

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