Posted 1/30/2019 07:40 (#7283543 - in reply to #7279158) Subject: RE: 401K vs saving for farmland
20 Miles West of Indianapolis Indiana
Douglas - 1/28/2019 14:17
Don't forget that the 401k balance will show up as an asset on your personal financials statement used to borrow for the farm increasing your net worth.
Yes it’s an asset. But in my mind it’s somewhat of an inflated asset because of the tax burden you’d have to access it. If one has $100,000 in a 401K and they get in a spot where they need to cash it in unexpectedly, they could be looking at only $60,000 in real money from taxes and penalties
401K vs saving for farmland
