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For example if in addition to equities, you plan to invest in alternative investments such as real estate, tax liens, precious metals, trust deeds, notes, private equity, etc., then a self-directed IRA may be a good idea.
Also, if you are self-employed at least on a part-time basis, you can open a self-directed solo 401k instead which would also allow for the aforementioned alternative investments, but you would also qualify for a solo 401k loan (borrow form your solo 401k).
The goal is to lower the interest rate and the monthly payment while paying off your debt more quickly.
Debt consolidation is not the same as debt settlement.
Specifically: – For ages 23-27, 75% of workers were with their employer for less than 2 years.
I was considering consolidating all of the funds in one account, but then I realized that would be putting all of my eggs in one basket.For example, when you obtain a mortgage loan, your house is security for repayment.If you fall behind, the mortgage holder can foreclose on your house to satisfy the loan.Then, after you sign up for the 401(k) offered by your new employer, you decide you'd like to move your rollover IRA into your new 401(k) plan.If your new employer's 401(k) plan accepts such transfers, you can go ahead with that plan.