Will be able to collect unemployment benefits if I have stocks as a personal investment?
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Will be able to collect unemployment benefits if I have stocks as a personal investment?
Would I be able to cash out my 401k but at the same time collect? The company that I work for is in serious financial problems and I’m afraid of lay-offs.
Asked on July 5, 2012 under Employment Labor Law, Nevada
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Yes, you could do this. Elegibility to collect unemployment and/or the amount of benefits is affected by income from work, wehether as an employee, as a freelancer/independent contractor, as a self-employed person, etc. It is not affect from non-work income or distributions from savings, brokerage, and retirement accounts.
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