How Much of My Retirement Account is Protected in Bankruptcy?

This question is a little difficult to answer since the viewer didn’t specify which type of retirement account. If we are talking about a 401k, there’s no cap on it in bankruptcy. With IRA, I believe there’s a cap at one million dollars. Florida Statute has an exemption for IRA and it’s unlimited. The worst thing we see at the Dellutri Law Goupe is when people have a lot of money in their IRAs and take it all out before filing for bankruptcy. We always advise our clients not to touch that money because it’s protected. Get more information on this very important topic in the video.