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
4.7 • 3.1K Ratings
🗓️ 26 September 2022
⏱️ 22 minutes
🧾️ Download transcript
Summary
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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