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  • Writer's pictureStephen H Akin

Invest in yourself

Instead of investing in someone else's dream invest in your own.

Since the arrival of the pandemic there seems to be an uptick in new business formation. Instead of returning to their previous job many people have taken the path to strike out on their own.

As a Registered Investment Advisor we can help you reach your goals smarter and faster.

Here is one example of a popular strategy to help fund a small business.

  • Entrepreneurs Receive Funding For Business

  • Begin your business journey with ROBS financing.

A rollover for business startups (ROBS) allows you to invest funds from an existing 401(k) or individual retirement account (IRA) into your business without paying early withdrawal penalties or taxes.

We can help you establish a strategy that allows you to combine a variety of retirement plans into one.

Avoid loan payments or interest with this worry free strategy. Many clients use this debt free method to fund. There is no loan interest and no credit needed. Others may choose to use the funds as a down payment in a SBA 7(a) or 504 loan. Often to buy an existing business.

How many plans are being accessed or how many people are rolling in does not affect our fee. Perhaps the husband and wife both want to roll in – we just need one.

Most retirement plans qualify. These include 401(k), 403(b), 457, Annuity Plans, Cash Balance Plans, Defined Benefit Plans, Employee Benefit Plans, IRAs, Profit Sharing Plan, Thrift Savings Plans, Rollover IRAs, SEPS and SIMPLE IRAs. The notable exceptions are ROTH IRA, ROTH 401k, or a non-spousal inherited IRA. Generally, the funds must be available – meaning prior employer.

It's a two entity structure, first we establish the operating entity which is required to be a C Corp. Next we establish a 401k plan for the C Corp. Now we have the employer and the employers plan. The client can now roll all of a plan, portions of plans, multiple plans, more than one person can roll. The funds go from where they are now into the new 401k account via a qualified rollover therefore no tax no penalty regardless of the clients age. Then the client makes an investment decision.

Need help? I'll be happy to guide you. Remember Akin Investments is a fiduciary advisor. We sell no insurance or financial products.

Your success is our only interest!

Asset and Cash Management Solutions

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