Frank Selden

Frank Selden

Hi, I'm Frank, attorney and CEO of 401k ROBS Pros. I’ve helped thousands of people find the right funding to start their business.

What types of retirement accounts qualify for a ROBS plan?

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We get this question a lot. Your level of financial expertise isn’t important when it comes to ROBS financing. The only thing you need is a qualifying retirement plan, and, luckily, most plans qualify.

  • 401(k):  This type of plan is usually employer-sponsored, and it is the most commonly used plan in regards to ROBS.
  • Traditional IRA:  This is another popular plan where you can invest your pre-tax income to grow tax-deferred. Roth IRAs are not eligible.
  • SEP A Simplified Employee Pension (SEP):  This plan enables employers and self-employed individuals to easily contribute toward their employees’ (or their own) retirement.
  • 403(b):  Also known as a tax-sheltered annuity, this retirement plan is geared toward certain public-school employees, ministers and tax-exempt organizations.
  • Keogh:  This tax-deferred pension plan is normally found amongst the self-employed, as well as unincorporated businesses.
  • TSP The Thrift Savings Plan (TSP): This is a retirement and savings investment plan reserved for federal employees and certain military members.

Have questions?  Feel free to schedule a free consultation with me to get all your questions answered.

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