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Free minder
Join Date: Nov 2001
Location: Middlessex county, MA
Posts: 9,422
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Reinvesting 401k money in vacation/rental?
My wife and I were discussing tonight about taking money out of a 401k (hers!) to buy a waterfront vacation condo in a nice area, that we could enjoy and rent weekly when we don't use it. There are some really good deals out there, and the 401k does not make much anyway. Considering the penalty of taking the money out early, does it sound like a stupid idea or not? If we buy a place for cash, even if it is not rented all the time, we can always generate some income and sell it later, hopefully for more than it costs now...
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1978 SC Targa, DC15 cams, 9.3:1 cr, backdated heat, sport exhaust https://1978sctarga.car.blog/
2014 Cayenne platinum edition
2008 Benz C300 (wife’s)
2010 Honda Civic LX (daughter’s)
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