Terry and Jon Turrell dreamed of retiring early.

Terry was a traveling pharmacist in southern Oregon. When other pharmacists were sick or on vacation, Terry stepped in.

Jon was a builder. They worked hard, maxed out their IRA contributions and bought investment real estate. The couple decided to buy land and build a home that they could sell.

With Jon’s experience as a builder, they figured they could sell the property at a profit.

The strategy worked, so they kept doing it. “We built dozens of homes and condos on speculation over a period of 15 years that we sold at a good profit,” says Jon. ” We decided to develop a six lot sub-division and build the first two homes on spec.”

That’s when disaster struck. 

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