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Non-Cattle Specific Topics
Coffee Shop
Buy land or fund an IRA?
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<blockquote data-quote="SJB" data-source="post: 1334760" data-attributes="member: 23940"><p>A Roth IRA may be a good compromise. Anything you contribute to a Roth can be withdrawn penalty and tax free. </p><p></p><p>You cannot make money (in most cases) if you figure in your land purchases. The land purchase has to be considered and investment. We can argue all day long, but when you add up what you spend to buy it, the taxes, upkeep, etc, it's not a great long term investment in most cases. </p><p></p><p>But its not at terrible one either. And there isn't anything quite like owning land. For me, it's right under that top line that has God, Kids, Family and Country on it.</p><p></p><p>If it was me, I'd start saving into a Roth IRA over and above what your employer matches, lease you some land to try cows on, and watch for at deal on land over the next 10 years. If you find the right deal, you can rob the ROTH for your down payment. If not, you have a good start on your early retirement plan.</p></blockquote><p></p>
[QUOTE="SJB, post: 1334760, member: 23940"] A Roth IRA may be a good compromise. Anything you contribute to a Roth can be withdrawn penalty and tax free. You cannot make money (in most cases) if you figure in your land purchases. The land purchase has to be considered and investment. We can argue all day long, but when you add up what you spend to buy it, the taxes, upkeep, etc, it's not a great long term investment in most cases. But its not at terrible one either. And there isn't anything quite like owning land. For me, it's right under that top line that has God, Kids, Family and Country on it. If it was me, I'd start saving into a Roth IRA over and above what your employer matches, lease you some land to try cows on, and watch for at deal on land over the next 10 years. If you find the right deal, you can rob the ROTH for your down payment. If not, you have a good start on your early retirement plan. [/QUOTE]
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