Funding new business using 401K

I looked into it, but the limitations on owner-management made the whole thing a non-starter for me.

Plus, do you really want to put everything you own at risk? Including your retirement?

 

I kind of disagree, having a 401k and having the fund tied up in managed vehicles like mutual funds that are dependent on the stock market or other markets may be a lot more risky. There are no guarantees that the money you put in today is going to be there tomorrow because the stock market and other markets are speculative in nature and run off of emotion.

 

Personally I wouldn't gamble my retirement funds on trucking. I don't want to chance being broke in my 60's

 

It depends on age too. If still in late 30s or early 40s then perhaps .... there is time to bounce back. If in late 40s and 50s...not a good idea IMO. On the other hand, few of us who own and also operate will go past the full retirement age anyway. So what the hell do we need 401K for?...just kidding.

 

This is why I Invest in gold, not digital currency or potentially worthless paper that been losing it's value since 1913.

 

Buy some woods somewhere, not only does it not deprecate like a truck you then have a place to hunt and throw parties.

 

Invest heavily in booze and chicks. YOLO

 

Gold.

It doesn't hedge against inflation when it is traded on the open market. It can and has crashed before.

 

I'll send you a PM with my contact info.

Guidant is legit. I used them 7 yrs ago. They have lived up to everything promised when I hired them. I've not had any IRS audit problems. They have a proven system to avoid that, and offer support in the unfortunate circumstance you do get audited.

That said, it's not for everyone. Specifically I would not recommend it for anyone who does not already have at least 5 years operating a business, preferably as a carrier with authority. The statistics about new business ventures, especially small carriers, failing are real. Having a big pile of cash to tap into will enable you to make bigger, more expensive bad decisions.