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I flipped a home and gained $18,000 profit. How should I invest the money? |
Should I pay off consolidated school loans? Should I invest in the stock market? Should I place the money in my 401k? You will be taxed on that profit unless you roll the money over into another real estate investment. Taxes could eat up a lot of that profit. You cannot place the money into a company 401k but you can open a Roth IRA and fund that account (max of 5k). Since school loans usually have low interest rates, only pay off your school loans if the rate on that loan is more than what you can get in a money market or savings account. into anotherhouse but get more money out of it this time ok if you are young, 401k. If not CD's i would put it into stocks. you would get a better rate of return and easier to sell if you make a wrong move then real estate. Yuo flipped a house and you came out $18K. Cool... Did you talk to an financial advisor??? Just like the stock market a short term gain is hit with 28% capital gains tax. Now you know what to do with $6000. Pay income taxes... Invest in Real Estate. if you put it in stock market or pay off student loan or put in 401k well youll need to pay a visit to your Dear Friend, Uncle Sam- he will take up to 50% of those gains if its less than 1 year. arent you glad you visited him. he really needs the meds. if you roll it over to another flip, well no taxes. woo hoo...see ya uncle sam. |
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