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Better investment going forward
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BHTN
Posted 1/15/2017 12:15 (#5769702 - in reply to #5769672)
Subject: RE: Better investment going forward



West Tennessee
Snowbound - 1/15/2017 11:00

I had a previous question about what the odds were for a guy who has farming experience but has been in an office for the last 20 years making a go of farming.

That being said, one of the driving questions at this point was what would be the better investment going forward for my family, keeping all of my IRA's and financial investments such as 401k's in place where they are or cashing them in and buying land when the price eases up a bit. I realize that both have their advantages and disadvantages but Id like to hear some opinions from the group.

I have heard a lot of people say that Trump will have a good effect on the stock market and it will continue its run from the 08 disaster. On the other hand, I have heard people say that land is the best investment (obviously depending on when you buy it). I partially agree with this but I given the last 20 years, there has been volatility with both and I would have to say that buying land right now seems to be more risky that investing in financials, at least for the foreseeable future. I'm not saying one is better than the other, I just know where I am at and how Ive gotten here and if a gearshift could be in my family's future into a different type of asset.

Any advice/opinions or fishing tips?

Thanks.


Well going from an office job to farming has been done before I promise. NOT an easy row to hoe by any means but doable with the right situation. I think the "right situation" is key. Do you have the time, dedication, family support, monetary means, etc. etc. to make it happen? Only you can decide. Personally I would not pull out my retirement savings to make it happen. I'd make it pay it's way along with what I could spare cash wise and it would have to make it that way. I don't see my retirement savings as something to use to invest in my business. It's separate for me. I realize that many do, and if you do also then so be it. The tax hit on taking it out would probably be discouraging also. As another poster already mentioned the shelter from liability issues means more and more to me everyday. Good luck to you in whatever you decide.
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