
The episode discusses Stan Kroenke's massive land acquisition and explores the implications of using 401(k) funds for home purchases.
Episode 81, Stan Kroenke just bought nearly 1 million acres of New Mexico ranchland in December, according to The Land Report. This now makes him the largest real estate landowner. Some argue this isn't right and others say yes! "He who has the gold makes the rules" is that accurate? 401(k) funds for a home down payment without the 10% early withdrawal penalty (if under age 59½) is primarily achieved through a 401(k) loan. While some proposals have been discussed to ease this, a direct, penalty-free "withdrawal" is up for debate, new policy may take place under the President's administration. Per A.I. on Google: If your employer allows it (about 80% do), you can take a loan from your 401(k) to use as a down payment. No Penalty/Tax: Because it is a loan to yourself, you do not pay income tax or the 10% penalty, provided you follow repayment rules. Loan Limits: Typically up to 50% of your vested balance or $50,000, whichever is less. Repayment: Must be repaid with interest, usually through payroll deductions. While5 years is standard, many plans allow for longer repayment terms (up to 15 years in some cases) if the loan is used to buy a primary residence. Risk: If you leave your…
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