would you drain all your accounts?
Hey everyone, I wanted to draw out everyone's opinion. I have a 401k that is matched by my employer, so I contribute to that. It's a no brainer since it's free money. All of my other savings is 50/50 split between savings and my wealthfront account. The wealthfront account does pretty well at a 12% return. My question is, if this were your, when the time comes to put the down payment on a property, would you drain both savings and the wealthfront account for the down payment? Or would you only allow the savings to be accessed as a source of capital for RE, and the wealthfront account should stay put to continue producing another source of income.
Most Popular Reply
You cannot ask this question in a hopes of getting good advice. The answer to your question depends on your personal goals, financial situation, the reason for purchasing the property, the numbers and analysis of the property in question, etc. If you are looking for someone with experience to give you some insight, post a little more background information focused around the list of topics above and then you will get some experienced investors responding with good information for you.
Regards,
Allen Fletcher