Published By Credit Suite at November 30th, 2015
When you invest in your 401k you are investing in other companies. But there’s also a way you can use the same 401k to invest in your business… with no penalties.
Business owners can borrower against their 401ks and IRAs to obtain funds for their business.With 401(k) financing a business owner can quickly and easily rollover their retirement funds from their previous employer or IRA into the new 401(k) plan.
The funds can come from multiple different sources and multiple people, including a spouse or an employee who is looking for an investment opportunity. And, thanks to provisions in the tax code, this can be done without paying a penalty.
A few of the many benefits of Retirement Financing include:
* Utilize funds from retirement accounts like IRAs, 401(k)s, 403(b)s, Keoghs, SEPs, etc., without incurring early distribution taxes or penalties
* Start a small business with minimal to no debt while securing significant tax benefits
* Use up to 100% of retirement funds, or use a portion as a down payment on an SBA or unsecured loan
* Combine retirement funds with the retirement funds of a business partner, spouse, or even an outside investor
* Save thousands in interest fees and protect personal credit
* Lower business overhead while aggressively growing retirement accounts
* Secure rates of 5% or lower.
Borrowers have access to their own specialist to assist in the safe rollover process.And with retirement plan financing borrowers can secure financing for as much as 100% of the value of the 401k.