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Updated almost 3 years ago,

User Stats

12
Posts
9
Votes
Michael McCloud
  • Specialist
  • Chicago, IL
9
Votes |
12
Posts

Cash Out Retirement 401K Early

Michael McCloud
  • Specialist
  • Chicago, IL
Posted

Getting right down to it, I am contemplating cashing out my 401k and taking the early cash out penalty, to fund my first step into the BRRRR strategy. I have been self directing 50% of my account for about 3 years and grew it over 500%. I have already pulled a first time home buyer loan that I am paying back into for the next 9 years. That amount would only be about 15% of what I would get back after penalty and taxes. I do not see a lot of viable options that I can confidently invest my money in the stock market and a raise in capitol gains tax is almost certain. This is in an effort to fund the first step into BRRR.

Thoughts and experiences anyone?????

P.s. I am 36

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