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I AM 57 YEARS OLD WANT TO BUY A FARM CAN I USE 401 K TO PAY FOR IT WITH OUT PAYING TAXES OR PENNITIES

SIMI RETIRED CAN TAKE 401 K OUT IF I WANT TO . WANT TO BUY SMALL FARM AND LIVE ON IT . STILL WANT TO WORK AT MY TRADE, WORKING FOR MY SELF, IN MY OWN COMPANY FOR A FEW YEARS . CAN I USE 401 K TO PAY FOR THE FARM AND BUILD NEW HOME TO LIVE IN

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dont do it....leave your 401k....you will be sorry

Nov 18, 2011
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The BAF Group LLC
MD

Charles, the question is why the hell you would want to do this, at your age!?! (I am right there with you.) Farming is a tough, demanding way of life and a lousy short term investment. In fact, it sucks as an investment. At best, you are buying yourself a job. If you insist, why not try to lease the land and even the equipment? Save your retirement - don't blow it!

Oct 29, 2011

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