Use Your 401k to Fund Your Business - Without Penalties

Written by chicceo Published in

Did you know you can use your 401k to start your business without incurring penalties? 

"Wait, WHAT?!" I said at the International Franchise Expo to a woman who told me that I can use my 401k without the tax penalty to start a business or buy a franchise (the reason she was at the franchise expo.)  

 

I stood there with my mouth open as she told me that her company, Tenet Financial Group, will roll over your 401k into a fund that you can use to start up your business without being taxed or penalized. Are you thinking of starting a business and wondering how you are going to fund it? This might be a really great option for you. 

In addition, she told me they will incorporate your business for you. If you are already an LLC or S-Corp, they will help you dissolve that and set up a C-Corp. With that, they will help you prepare your by-laws, minutes, records, stock certificates, etc. 
 
I was blown away when I heard all of the things Tenet does and wish I would have known they were available when I got Chic CEO started! 
 
If you want to get more info about this service, click here and fill out the form. 
 
Happy funding ladies! 
 
 
 

Comments

While Tenet Financial is a great company, they aren't the right answer for everyone. Not everyone wants to be a c-corp and deal with double taxation. Not everyone wants to pay a big fee to get at their own money. For those people who only need $50K or less, there is a much better (in my opinion) and much less expensive option. I can show you how to access your IRA or old 401k money without charging you a big fee.

My method isn't for everyone, either. If you want more than $50K, my method won't work (unless your spouse also has $50K, in which case I can get you up to $100K). My method requires making some payments back into your retirement account. My method requires that you leave some of your money in your retirement account. My method only costs about $800 and you can get a tax credit for that amount the following year.

So go ahead and check out Tenet, but do your due diligence and check me out, too. Email me at steve.hartel@trilogyfs.com for info.

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