Short and sweet tonight. Been recovering from the whole revenge of the sinuses thing.
If you have a 401k from a previous employer, it’s probably convertible to what’s known as a Self-Directed IRA. This would not entail taxes or penalties, and can be done relatively simply and quickly, especially with the help to which I can point you.
Why would you wanna do this? Simple — you’d be in virtually total control of your funds, which would allow you to acquire, if you were so inclined, well located cash flowing real estate. I can turn you on to a lender specializing in such loans.
Speaking of said loans, that’s even more good news. They’re what’s known as non-recourse — which means the lender can’t go after your plan or you if things go to hell in a hand basket. Furthermore, they’re barred by federal law from requiring a personal guarantee. It’s the best of all worlds.
You can use the strategy I wrote about yesterday. Or, much mo betta, you can use your Roth IRA if you have one, which will be just about golden when using last night’s strategy.
OK, that’s it — short and sweet. To talk with me, call 619 889-7100. Have a good one.