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Money Guy Show

When Should You Get Into Rental Real Estate?

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Investing, Education, Business

4.73.1K Ratings

🗓️ 26 September 2022

⏱️ 22 minutes

🧾️ Download transcript

Summary

If you're investing 25% of your income toward retirement, can you start investing in rental real estate properties? We'll walk you through that question and more in today's Q&A episode! Watch more exclusive content only on YouTube! Visit our website - Get our FREE financial resources - Sign up for our Financial Order of Operations course - Get easy to understand answers to your financial questions Follow us on social media! -Instagram -Twitter -Facebook -TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,

0:07.0

investing, taxing.

0:09.0

You've got financial questions, he's got financial answers.

0:12.6

It's Brian Preston, the money guy.

0:15.8

Okay, question from Ryan.

0:18.8

He says, I am 26 years old and I just quit my job, but I already have another one lined

0:23.4

up.

0:24.4

What should I do with my old employer 401k?

0:28.2

I have contributed to a Roth 401k, but now am I able to move this to my Roth IRA?

0:34.1

Or is there another option, Brian?

0:35.3

What should he do?

0:36.3

Yeah, I mean, this is a good question.

0:39.0

By the way, what does create a little bit of uniqueness here is that it's a Roth element

0:43.9

versus traditional savings because Roth grows tax-free, which is always really powerful.

0:51.0

First thing I always look at is I say you have several options here.

0:54.8

You can leave it where you are.

0:56.2

You don't have to take the money.

0:57.6

This is the money is over.

0:58.8

I think these numbers still hold up.

1:00.2

I'd have to see if they've been indexed, but I think it's around $5,000.

1:03.4

Once your account value is over $5,000, your employer, your passport can't just kick you

1:08.0

out and write you a check.

...

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