I work in the student loan servicing industry, and my company was recently bought out by a competitor. Because of this, I will either be able to roll over my pension for discounted stock options in the new company or roll over into a self directed IRA or cash out with penalties. I am 50 and single, and my concerns come from being a child of a struggling trailer park owner in the 1960/70's and a former wife of a struggling carpenter/general contractor. I have been diligently listening to the BiggerPockets podcasts and would really like to invest for cash flow and leave a legacy to my grand daughters. Should I Cash Out My Pension To Invest In My First Rental Property?

before you cash out anything check out the govt. programs in your area that offer grants or financial assistance to buy real estate . That's how i bought my first . You will be surprised as to what you will find . you will have to do some research. or go to  lesko.com/tutor 

I got all mine from there. he really helped me out.

Hope this helps. If not, sorry .I tried . All the best.

Thank you, Maria, for the suggestion. I was thinking of using an FHA 3.5% down mortgage to house back my first property. I wasn't aware there may be grants available to help. You're right. I need to do more research.