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I can't believe I found a topic that only has one post on this forum! Usually there's dozens and dozens of answers to read . . . Seeing as how it was several years ago and didn't get much traction to begin with, I'd like to ask the question again:
TL;DR: What has been your positive/negative experience with utilizing Rollover for Business Startups (ROBS), specifically for acquiring a small, profitable business?
Context:
After failing and learning through a handful of entrepreneurial endeavors over the past 5 years, I have my eye on Entrepreneurship through Acquisition, as taught in books like Buy then Build. My current skillset and experience is better suited for 1 to 10 than 0 to 1. The current hang up is capital for making the acquisition. I know there are several ways and the Fastlaner would be creative; that's not what I'm interested in right now. I just learned about ROBS and I'm curious to hear other people's actual experiences with using that, if any. From what I can tell, it can be a complicated and risky approach, but the advantage is you can access your retirement savings without tax/penalties in order to fund a new business (I know it's more complicated than that, but that's the gist).
TL;DR: What has been your positive/negative experience with utilizing Rollover for Business Startups (ROBS), specifically for acquiring a small, profitable business?
Context:
After failing and learning through a handful of entrepreneurial endeavors over the past 5 years, I have my eye on Entrepreneurship through Acquisition, as taught in books like Buy then Build. My current skillset and experience is better suited for 1 to 10 than 0 to 1. The current hang up is capital for making the acquisition. I know there are several ways and the Fastlaner would be creative; that's not what I'm interested in right now. I just learned about ROBS and I'm curious to hear other people's actual experiences with using that, if any. From what I can tell, it can be a complicated and risky approach, but the advantage is you can access your retirement savings without tax/penalties in order to fund a new business (I know it's more complicated than that, but that's the gist).
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