Boone & Crockett - 7/4/2020 08:02
McFarmer - 7/4/2020 07:34
Take out a bank loan and use the 401 as collateral. That should give you the best rate and terms.
You’ve been doing pretty well to have that size of farm, full time job and wife working.
Cant do that without creating a taxable event.. What I would do though, is figure out what payments on the loan would run, and if in fact you do take it out, repay yourself by upping your salary deferrals to make up for it. Maybe even a little extra to make up for potential lost growth. Those withdrawl terms are very generous, hope too many folks don’t take advantage of it.
Taking money out of 401k with no penalty??
