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fireman

Can I Invest My 457b In Real Estate?

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I recently was terminated and hired by another public employer. Both have/had 547b plans. I have the option of taking my money minus 20% taxes, rolling over into the new employer's plan, or leaving it in the old place for a while. I say a while, because the old employer has no employees anymore and may just close their account.

 

I am interested in purchasing some vacant land to use when I retire. I know I can do it with an IRA, but not sure about 457s. What do you all think? Would I be wise to take the money now and invest in Real Estate, or just roll it on over. I have this grand opportunity right now as I won't have to pay the 10% early withdrawel.

 

Thanks!

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Guest Sierra

I recently was terminated and hired by another public employer. Both have/had 547b plans. I have the option of taking my money minus 20% taxes, rolling over into the new employer's plan, or leaving it in the old place for a while. I say a while, because the old employer has no employees anymore and may just close their account.

 

I am interested in purchasing some vacant land to use when I retire. I know I can do it with an IRA, but not sure about 457s. What do you all think? Would I be wise to take the money now and invest in Real Estate, or just roll it on over. I have this grand opportunity right now as I won't have to pay the 10% early withdrawel.

 

Thanks!

 

 

How old are you? Who are you responsible for in addition to yourself? Married? Children? What is the 457 account balance?

 

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