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Updated almost 11 years ago on . Most recent reply presented by

User Stats

32
Posts
3
Votes
Rich Riesmeyer
  • Investor
  • Summerville, SC
3
Votes |
32
Posts

Does this plan make sense?

Rich Riesmeyer
  • Investor
  • Summerville, SC
Posted

I plan to retire some time next year and need some advice. I have a 401k invested in stock funds, and would like to avoid the ups and downs of the market. My goal is stable passive income, so leaving the money in a stock fund would worry me. Same with an annuity.

My thought was to buy rental property, paying cash from the 401k. The 401k money would be considered income in the year it is withdrawn, so there will be a large tax bill. We have one sfr now, so I know that what I'm considering amounts to a part time job, that's OK. I do realize we could finance and buy a bunch of property, but that would be full time work, not really in keeping with the goal, retirement..... Are there any big points I'm missing, or is this a reasonable plan?

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