Non-Traditional IRA Uses (1 Viewer)

[KiwiSaint]

Now taxpayers have the option of investing in a much wider range of investments. Here is a list of just a few of the IRA and 401(k) investment options available to all taxpayers:

• START A BUSINESS, BUY A FRANCHISE
• BUY PART OF A BUSINESS
• BUY A PARTNERSHIP INTEREST / FORM LIMITED PARTNERSHIPS
• FUND LIMITED LIABILITY COMPANIES / CORPORATIONS

http://www.bocekcpa.com/401k-invest.html

Anyone have any experience in this area? I am looking to buy-out one of my competitors and was thinking of cashing out my IRAs. The penalties and tax ramifications made this unfeasable but I found this information to be intriguing. I didn't know you could do this with an IRA...

 

[Danchrism]

I realize this thread is about unconventional IRA uses, which I haven't even established yet. Hear me out though, maybe I can offer some insight.

I am in outside sales, which is currently salary+commission,




















































































This is what I have noticed in my six months, I am sure there are plenty more that need mentioning. The way I am setting myself apart as a sales person is this: I go after the big accounts right now while I am new. The big accounts, if I land them, will take care of me while I am new and building a customer base. The money made off of those allows me to focus free time on smaller accounts that get me higher margins. I build up big accounts, I would like to have 5-10 of these, then get 20-30 medium accounts. If I lose 1 or 2 big accounts, the 20-30 medium accounts keep me afloat while I go after new big accounts. I don't really waste time on small accounts simply because they basically pay for breakfast or something really small.

I will say this, if you can't get a big account in the first 6-8 months (assuming you have cash flow that you can ride this long) you could be in a world of trouble. If you can get one, it will really make going after the others a lot more enjoyable and less stressful. It's simply just very exhausting wasting any time on anything other than big accounts in the very beginning. You work just as hard on the medium sized accounts and see 1/3 to 1/36 of the money in my situation.

If you have any other questions, you can PM me. I hope this helps in the slightest!

 

[KiwiSaint]

Bump for the morning readers...

 

[SUBLIME]

The company I work for had a private placement to raise money for a new company, in doing so there we people that took money from their 401K formed a LLC and the LLC bought into the private placement...that was several years ago, I wasnt sure how they were able to do this but it was interesting.....