All Forum Posts by: Karen O.

Wish I knew then what I know now.  This happened to a friend when her parent died.  She wasn't 30.  And blew the whole wad.  Several years later and she's still struggling to get even let alone get ahead.  

An advisor, not affiliated with any investment house, who works on a flat fee basis would be a step in the right direction.  If this young person has no interest in RE, BP may not be the right fit.  

I'm like Buffett in that I don't Invest in what I don't understand.  As a result, it's outside my comfort zone.  So, I won't become a Bitcoin millionaire.

Like @Karen Margrave I was going to suggest Servpro.  If they don't do this type of work, they may have a referral to offer.  And at $48K, you should be able to get a bio hazard team from Boston or NY and still have $ left over.  Good luck.

I don't have the board game.. But I have played the online version...though it's been a few months.  There you can play against yourself, others or the computer.  It's fun to think about different strategies you can employ depending on your w-2 income and voluntary and involuntary choices.  You may also get some ideas you hadn't considered before.   

If the heat is on, chances are slim that the pipes will freeze.  However, for added insurance, my insurance company recommends turning off the water where it comes into the house.  If a well, I flip the switch on the well pump.  If town water, I close the main.  It's easy once you know where everything is and once the basement (in NE we tend to have basements) is well lit.  

@Ross Yeager,

@Dmitriy Fomichenko is a good source for the info you seek.

My 2 cents, if you're planning to stay employed at your current w-2, you'll need to determine if an in-service distribution is even possible.  In my experience, they aren't standard.  Thus, your primary options to access these retirement funds may be via a loan, which is usually limited to $50K and which you'll be paying yourself back over the course of years while you are still in service - or - waiting until you leave this employer to be able to transfer the entire balance to an SDIRA.  And of course, in the future, you have the option to save up outside the 401k.

 Best of luck.

Make the contribution and take the match.  Never leave the employers $ on the table.  

If possible, contribute more to benefit from the tax saving nature of the 401k.  

Or, if you can afford it, and if the company offers it, make a Roth 401K contribution.  That way you pay the taxes now and all gains are tax free in the future.  

If your wife stays with the employer, after a time, she'll likely able to borrow from those funds should she need to.  Then repay her own account with interest.

If she stays long enough to be vested, assuming she isn't immediately vested, all the funds will be hers upon leaving this job. Then, she could roll it over into an SDIRA/Roth SDIRA if she wants to make the funds available for investing in RE or a regular IRA rollover/Roth IRA rollover for investing in standard stocks and bonds or a combination thereof.

It's a good idea to diversify your portfolio with a variety of investment types.  So, investing in mutual funds or ETF through an employer plan isn't a bad thing, it's just another piece of the puzzle.  

And finally, she can access the funds penalty free at 59 1/2.  Or earlier if she takes it as an annuity.  

Sounds like a certificate of occupancy, COO or C of O.

If the building doesn't have one, you should be able to obtain from your local building inspector.