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Updated about 7 years ago on . Most recent reply

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14
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Susan Oram
  • Investor
  • Meriden, CT
1
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14
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What move to make with a 401k?

Susan Oram
  • Investor
  • Meriden, CT
Posted
So my mother has a 401k that she needs to roll over into something. She is willing to loan the money to me to help purchase real estate. Thereis roughly 26k in the account. What would be the best vehicle to move this money to in which she would garnish the best tax advantages and help any proceeds we pay her to be tax free/deferred? My mom is 56, works full time and doesn't need the money right away. I would like to help her build her nest egg even more by the time she decides to retire. Thank you for your help.

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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
6,551
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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
Replied

She needs to check because lending to  her immediate family members may be a prohibited transaction. If so she could lend to others that wanted to borrow money for Real Estate purchase. That would take a little research and due diligence to make sure your money is protected.

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