Liquidating a 401k Sexcam no member
This is for investment property only so most lenders will require at least 15% down and sufficient cash flow. You will be paying your solo 401k interest of approximately 4.0%.
This is certainly not the best use of your 401k money, but if you do not care much about the balance of your 401k and are looking to invest in real estate to achieve early financial freedom, this may make sense.
So, rather than going ahead and liquidating the 401k, use it to your advantage.
Rather than having your 401k held with a financial advisor and being diversified amongst asset classes that return ~7% annually, you can move it to a self-directed IRA or a solo 401k to manage yourself.Therefore, the amount in your 401k will not matter.It will just be an added bonus as you hit your “golden years.” As a Millennial, my initial thoughts aligned with these young folks.With these self-directed accounts, you can invest in anything.The one limiting factor is that you cannot get a conventional recourse loan with your 401k.