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Re: Way OT: investments in 401K
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Posted by wiseoldowl on August 01, 2004 at 04:40:08 from (69.179.21.81):
In Reply to: Way OT: investments in 401K posted by Kurt (mi) on August 01, 2004 at 04:10:03:
You have done very well to this point but are now in need of a trusted financial consultant, accountant, or attorney. They use computer programs to plot likely results and how they affect you over time. They will ask you dozens of questions in order to get the most accurate projections. Regarding investments... something like 95% of all wealthy people got that way by investing in real estate. The supply of real estate is limited; they aren't making any more of it. The demand increases with population. So prices go up. Given certain tax brackets you can do far better than 7.4%/yr. Unlike stocks, real estate is generally a very safe investment. There are many ways to go about this, in my case, I bought single family homes in middle class neighborhoods, rehabed them, and then sold them at net profit that was never less than 25% annualized. If you look at the real ROI on your 401K I'll bet it's not close to 25%, maybe closer to one tenth of that. If it were me, I cash in that 401K, pay cash for houses like I described, rehab them, and either rent them out for cash flow or sell them and then reinvest the profits in another rehab. You can make some serious money this way and nothing the government or any company does can hurt you. Good luck to you!
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