Cash out 401k or leave in?
Hi BP,
Should I cash out 401k to pay for finishing basement for a rental property? A couple facts. I’m 30, I have enough in 401k to cover finishing cost(45k) after all penalties. Basement will rent for conservative 1200 a month. After running the numbers it seems like a no brainer but I need advice. Additionally, is the money spent on the finishing cost tax deductible so that my actual cost of taking 401k out would only be 10% penalty? Thanks