My high school German teacher hated it when people were late to class. But, there always seemed to be one smart-aleck student who would come in late anyway, announcing “better late than never”.
“But better never late”, my teacher would reply.
That same idea can be applied to funding retirement. » Read more
When push comes to shove during a financial emergency, that retirement money you’ve socked away can look pretty darn tempting. And for many people who either don’t have an emergency fund or have already exhausted it, that money may be the only (relatively) easily available lump sum they’ve got.
But that doesn’t mean you should automatically drain your retirement fund. Yes, you may be desperate to stave off foreclosure or pay creditors who are hounding you, but using your retirement money to do so may not the best idea — especially if you’re doing so in a last-ditch attempt to preventing having to file for bankruptcy. Here’s why. » Read more
I’ve taken the plunge. I’m in the process of buying a house within my IRA. (I’d debated a house vs. a condo a while back, and had come down squarely on the side of “no idea what I’ll do”.)
Originally I’d thought I would look for either a house to flip or a condo to rent out, but the price point I had in mind made that a no-go for this area. Instead, I’ve made an offer on a house to renovate, hang on to, and rent out — and the offer was accepted. (That’s the house, pictured above.) » Read more
I’m going to do it: I’m going to dive in to a self-directed IRA — one I can use to invest in real estate. Truth be told, I’m still a little nervous about the process, but that’s probably because it’s new to me. (Kinda like eating a new food, or traveling to a new country where I don’t speak the language.) Except this time, it involves investing in real estate while making sure to comply with IRS rules and regulations regarding retirement accounts. » Read more