Harvard Law Attorney George Blower reviews the scenarios and strategies to exit a ROBS 401K Business Financing plan.
1:25 What is a ROBS 401K?
3:10 Top ROBS 401K Exit Scenarios
4:14 Sale of the Business
9:20 Business is Closed
10:53 Stock Buyback
15:59 In-kind distribution
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The 401k business financing plan (ROBS 401k) is perfect for entrepreneurs seeking readily available funding capital, especially those looking for interest-free or no-hassle business funding sources.
-Fund your business start-up with retirement funds: Also known as ROBS 401k, the small business financing 401k plan allows you to fund a business with your retirement funds without taking a taxable distribution.
-Not a taxable distribution: Because you directly rollover your IRA or former employer 401k, 403b, Keogh, SEP, SIMPLE, or another eligible account, to your new ROBS 401k plan, which then funds your business, you incur no taxes or early distribution penalties.
-Not a loan: Unlike traditional 401k plans that allow for a 401k participant loan, that is, borrow up to 50% of the account balance not to exceed $50,000, our 401k business financing plan allows you to use all of your retirement funds to fund your start-up business.
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For over 10 years, My Solo 401k Financial is the leading self-directed solo 401k provider having helped over 8,000 clients take control over their retirement funds by focusing on superior knowledge, expertise, and customer service with over 100+ 5-star verified customer reviews on the Better Business Bureau (BBB)….(read more)
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