#178 with Claire Rosenberg: Leveraging Your 401K For Creative Ways to Finance

Millennial Millionaire Real Estate Podcast

English - February 18, 2021 19:10 - 18 minutes - 34.5 MB - ★★★★★ - 56 ratings
Investing Business Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed

Previous Episode: #177 with Matt Anderson: Creating a 6 Figure Real Estate Business & Everything You Should Know Legally in Real Estate

Next Episode: #179 with Jonathan Farber & Claire Rosenberg: Reflecting on the Week & Always Refining Systems

In this episode, Jonathan Farber and Claire Rosenberg share what they’ve learned about leveraging 401k retirement plans for real estate. In this episode, we jump into topics like: how can you use a 401k for real estate, methods for employing the strategy, why 401ks are rarely employed in real estate, and more!

Top Takeaways:

The concept of buying real estate with a 401k - 5:45 - 9:00

While every provider will have a different setup, you can usually take some money out of it

While there are often interest fees, they can be much smaller than expected

When you consider it as a vehicle to start investing in real estate, it’s a logical step

What you need to do to use this strategy - 9:30 - 10:45

The first place to go is your plan provider, such as Fidelity

You choose the timeline to pay the money back out of your paycheck

This means you can choose how big of an impact the transaction has on your cash flow

Understanding why 401ks are so infrequently used - 11:00 - 13:45

There’s a lot of stigma around ever touching the money in a 401k prior to retirement

This makes even investors who’ve heard of it hesitant to approach it seriously