Many love talkin’ about impressive dollar amounts in their 401k at retirement. Look, when you’re 59.5 and retired, your plan was likely based upon the YIELD that impressive amount was gonna generate, right? And there lies the problem. Retirement is about after tax income. The rest is HappyTalk.
Qualification with self-admin 401k plans — the name of my new band. Do you understand what qualifies you to have one? What can roll into it?
You can learn by doing or you can avoid some painfully expensive lessons by building your own team of experts. Doing things yourself can often lead to a long term financial derailment. It’s far better to learn the lesson without suffering it’s consequences. Make sense?
UDFI – Unrelated Debt Financed Income — The name of my new band. Seriously though, this is one of the important reasons why, if possible, you should opt for a self-administered 401k over an IRA.
Here’s how I conduct a rent survey. I’m a firm believer in boots on the ground, clipboard in hand. Are you?