All Forum Posts by: Richard Chagnon

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Richard Chagnon has started 1 posts and replied 3 times.

@Brian Eastman If I'm reading this right, if I roll the money into a self-directed IRA or solo 401k I could buy rental properties but any money made would go back into my retirement.

What about rolling it into my current 401k where I could take a loan? Is that a bad idea? Is it legal?

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Thank you both for your advice. I will read up and educate myself more on this subject.

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I am new to real estate investing (I have yet to buy my first property) and not a lot on money on hand. I do however have a retirement account with approximately $235,000 in it from a company I no longer work for.

My question is , how can I best use that money? I can't take it out without being penalized. Can I roll it into real estate? Or possibly roll it into the 401k I have with my current employer where I can take a loan against it?

The 401k I have is relatively small as I have only worked for this company about 1 1/2 years.

Any advice I could get would be much appreciated.

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