401k Rollover Options

[Nicholas Broussard]

Folks,

Are there any other options for utilizing my 401k besides a SD-IRA?

Here's the situation, I was laid off last week, so I'm jumping into REI full time. I have other capital to use as well, but I also have to consider staying afloat with my own bills (I need liquid reserves). So I understand the SD-IRA can finance deals, but the funds and the returns on those deals have to go back into the IRA. I need income from my deals, so I'm wondering what else is available to use 401k funds besides cashing it in.

Thanks,

Nick 

[Judah Hoover]

@Nicholas Broussard, If you have access to other funds use them. Keep the 401k where it is, you can roll it or cash it out later. You really wont find anything else you can do with those funds. A bank cant use them as additional security, and any profits they generate directly or indirectly must go back into the tax sheltered account.

I say if you need the funds... take the hit and use them. Retirement is no good if you have to live a life of PB&J till you get there.

Cash in your money and rebuild.