After months of debating I took a huge step this past week and decided that I have no use for a retirement account in a market like this. Not that I don’t believe in having money set aside for retirement, but I think from a short and long term basis that pulling out that cash, paying the taxes and penalties will leave me in a much better position than trying to bet on stocks and bonds. Of course this cash will be used for some short term investments, so my idea is to actually utilize this money and create short term wealth through various RE avenues.
My adviser actually agreed with a number of my points in respect the markets, so I actually felt comfortable moving forward with my decision. Now some would say that was a bad move, but being in my early 30’s I just don’t see a way of my account becoming a valuable asset when I’m older. I suppose if I was in my 40’s or 50’s my mindset would be completely different.
I had a large amount of assets in these accounts so it was a very big decision for me to make. I am curious to know if any other Piggs out there have liquidated your accounts or thought about it?
