originally posted by: 10uoutlaw
a reply to: DBCowboy
Amen to that , I just got it back to where it was before the markets crashed . Already talking to my money manager on what to do if Biden wins
we are currently in plans that when i switch jobs towards the end of the year to just take the tax hit and withdraw the 401k money and buy as much
land as possible.
we own our house already, own our car, and will soon be debt free except for student loans.
ifigure the food, money and indepence we can make from a parcel of land far out outweigh the risk of a 401k that may be stolen after trumps second
how do i plan to do it?
while i am still phyiscally capable the plan is to buy atleast 15 acres of timbered land and build as close to an off the grid home i can build,
currently that will be an earthship styled home with an indoor green house,in floor radient heat provided by either a natural gas well or outdoor wood
solar and hydro powered electric with grid backup
over an acre of the land will be dedicated to different kinds of berry bushes, fruit and nut producing trees
over an acre will be dedicated to a garden which we intemd to can/preserve and sale the excess production
Large portions of the property will be converted to timber stands to be harvested in fifteen to twenty years which
will be retirerment age for me.
In the past four years while working the full time job i have now, i have completed the above on a much smaller scale including a complete remodel of
our home as we paid 18k for it in 2017 we had to put everything back together as it was a mess all new electric, plumbing drywall etc
this year i have made a 30x50 garden and canned or sold much of it
additionally, we have 14 chickens for eggs and two goats for the intended purpose of producing items for sale such as soap, milk and goat meat in a
finally and perhaps the main reason for all of this is our three children when we move to this new property we may rent our current house out to HUD
which for our area is $800 a month or sale it for 75k current estimated sale value, which as we have no mortgage will be straight cash to reinvest on
the new property.
Our plan is to build three homes for the children to have so they do not need to ever worry about where they will live (assuming they wish to stay
around ole mom and pop) i amcpushing them towards jobs based aeound apprenticeships ao they do not have loans to worry about
all that will only occur loan free if i take my 401k and start now if i wait until i am 59 1/2. none of the above will be possible as i suspect i wont
live long enough to get anything accomplished or be saddled with so much debt the kids will have nothing to show for all my effort.
my next job i intend to retire from and expect i will be able to work there for twenty years during which i can rebuild any 401k with the enhanced
401k plan they have in place and as we will have little debt larger amounts of money can be saved.
i do not want the government in charge of my livelyhood at the end of my life, i will refuse to be put in the nursing home ( hoping to die peacefully
on my front porch watching the sunset no one avoids death) therefore as long as my family has food, water and shelter the rest of life will fall into
place and i hope to leave my children vastly better off then i found myself born into
I firmly believe this path will be much more satisfying and ultimately more successful then leaving most of my income sit in a bank while i pay fees
on loans and mortgages
if you read all that thanks for reading!
edit on 26-8-2020 by RsaWarhawk because: (no reason given)