Using an IRA or 401K to Fund a Business

Investing your IRA into a Small Business is HUGE for getting the ball rolling and staying ahead while avoiding a bank loan. Diversify your investments and start looking into using your IRA or 401K to fund your business and get it off the ground! Small businesses might need your money.
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Leave your questions in the comment section below!

[@Dsin71]

Should rename this video to "Borrowing up to 50k from 401k or IRA to start a business".

[@MatSorensen]

Thx for the feedback. There are three options, 401k 50k loan, ROBS, and IRA/LLC (being passive, not working in biz).

[@FelaKuti8000]

When you draw a participant loan from an Individual 401(K), will the plan own the purchased business? Or is a participant loan treated like a personal loan?

[@gabriellozada7028]

I was told I had to use a c - corporation if I use my 401k

[@antcaruso3465]

401K ROBS is what you need. Can only do this under a C Corp.

[@MatSorensen]

That’s the ROBS strategy. We have another episode and video on that. It can work but isn’t for everyone as it does require a c-corp and will cost you more in taxes.

[@RonAdam-d5i]

Can you please put a link on the other video for Rob‘s strategy?

[@puremomentum]

Will this work with a 403b as well?

[@MatSorensen]

Most 403b plans allow participant loans where you can get the max loan of $50k from the plan/account that you can sue to start a biz.

[@puremomentum]

My 403b does not allow for loans, only hardship withdrawals paying penalties. I am leaving the university at the end of the year and plan to start a small business, I'd like to use funds from the 403b to start it. It would be nice if I didn't have to cash it out and pay the penalties to unlock the funds to start my business. Any ideas? @@MatSorensen