Navigating Risks and Transfers of 401(k) Funds

Exploring risks and considerations when shutting down a company, including withdrawing 401(k) funds. Insights on transferring 401(k) accounts between financial firms and the necessity for careful decision-making to prevent financial errors and losses.

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Everyone wants to reach financial independence as soon as possible. But if you really want to get on the path to early FI, you’ve got to start making savvy money decisions TODAY. And we’ve got a few tips, tricks, and tools that will help you out!

Welcome back to the BiggerPockets Money podcast! In this episode, Mindy and Amanda Wolfe are fielding questions from the r/PersonalFinance subreddit and delivering their best money tips for scenarios that YOU could easily find yourself in. First, we get into 401(k) accounts and some of the different ways to transfer funds when you leave your employer. We also go over some of the different strategies for budgeting, investing, and saving money that will help you reach financial freedom early.

But that’s not all! If you live in an area with a competitive housing market, we discuss whether you should ever waive a home inspection to help sweeten your offer. We even talk about the idea of buying a house outright versus going the route of a traditional mortgage. Is a large car payment thwarting your path to financial freedom? Stay tuned for a few creative ways to get rid of that bad debt for good!

In This Episode We Cover

Tips and tricks to help you reach financial independence early

What to do with a 401(k) account from a previous employer

Buying your home outright versus getting a traditional mortgage

Whether you should ever waive your home inspection when buying a house

Creative ways to eliminate car debt (and save thousands in the process!)

And So Much More!

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