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401K vs saving for farmland
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Boone & Crockett
Posted 1/28/2019 06:55 (#7278146 - in reply to #7278141)
Subject: RE: 401K vs saving for farmland


STFB - 1/28/2019 06:49

Boone & Crockett - 1/28/2019 05:13

Or make withdrawals in loss years to bring income up to zero and pay no tax. I’ve coined these plans as “Individual Farmer accounts”.


That is a good phrase, I just assume keep my 401k and not convert to the individual Farmer account.... hopefully life lets me.
Yup, max it out, pay no tax, take it out in loss years, pay no tax, all within the parameters of existing retirement plan chassis. This is why as a farmer, the traditional qualified plan can have a major advantage over the NAT approved darling, the Roth.

Edited by Boone & Crockett 1/28/2019 07:47
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