Wednesday, January 16, 2013 9:19:37 AM
FWIW, Re 401K, here's my ultra-radical solution that I would not recommend for most folks. I'm a lifelong risk-taker and comfortable with that.
About 4 years ago, when I turned 60, I cashed-in every single retirement and mutual fund account that I had (if nothing else, it simplified my paperwork, it was annoying keeping track of everything.) Paid the penalties on some, paid the tax on all.
Took the money, bought a bit of real estate (my background), researched like a demon (that's the key!), bought a few stocks that were risky but looked great. Within one year I made back the penalties and taxes and currently I'm showing approximately double the ROI compared to keeping all the plans, funds, etc.
I have never looked back and don't plan on it, but as I said, it is most definitely not for everyone!
About 4 years ago, when I turned 60, I cashed-in every single retirement and mutual fund account that I had (if nothing else, it simplified my paperwork, it was annoying keeping track of everything.) Paid the penalties on some, paid the tax on all.
Took the money, bought a bit of real estate (my background), researched like a demon (that's the key!), bought a few stocks that were risky but looked great. Within one year I made back the penalties and taxes and currently I'm showing approximately double the ROI compared to keeping all the plans, funds, etc.
I have never looked back and don't plan on it, but as I said, it is most definitely not for everyone!
All that is needed to make a happy life is within yourself, in your way of thinking. -Marcus Aurelius
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