Thinking about rolling over your 401k to purchase a new franchise or a personal business venture, then you might want to think again?
Authors Jeff Nabers and Phoebe Chongchua (Five Steps to Freedom: How to Cut Your Dependence on Institutions and Escape Financial Slavery) suggest that using an investment structure known as Rollovers As Business Startups (ROBS) to fund a business startup or franchise is an IRA prohibited transaction.
Jeff Nabers is CEO of Nabers Group, an unconventional planning company in Denver, Colorado. His research and personal dealings with the Department of Labor compel him to recommend against the Rollovers as Business Startups strategy.
Nabers Group can be reached at (877) 903-2220. Watch more Nabers videos.