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Beresford, SD | I am in the same situation as you Piedmont......worked off farm for 13 years...quit 5 years ago, have not contributed since, I have been disappointed in the returns, Im pulling mine out a little each year.....money will be used to tile and build a cow heard from scratch, a 179 deductible item. No way around the 10% early with drawl, but the tax liability is easy to manage or "defer" in the middle of your career than at the end. Time will tell if I am making the correct decision. Could easily borrow the money to build a cow herd, but I feel this is a better choice. Never met a successful farmer that "needed" his IRA money at 59 1/2, as at that point in their careers they are already in the top tax brackets....just as well use it now and with some hard work it shouldn't be to hard to get better returns than a fee ridden IRA. My 2 cents. | |
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Finance question
