should I take money out to lend as Private Money Lender or invest in Real Estate
Our 401k is taking a beating, we are 74 & 70 years young, confused if we should invest in Real Estate or lend our money through our LLC as a Private Money Lender, how much would be the penalteis or tax consecuences for early withdraw, or just withdraw some. Thank you
Terry Says
That is the most INSANE idea I’ve ever heard! Out of the frying pan, and into the fire!
Did you just start reading my columns?
Why on earth did you leave the money in your old 40lk plan where the only options are stock and bond funds — likely no money market fund to hide in, since 40lk plans are for young workers.
Call now and switch into the short-term bond fund option if there is one.
DO NOT take your money out. But you can do a rollover to Fidelity or Vanguard if you are seeking a money fund option. REad this: https://www.terrysavage.com/rollover-now/
