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Need a loan from $5,000 to $50,000?
Thanks to recent tax laws, you can now borrow up to $50,000 from a Self-employed 401(k) Tax-free and Penalty-free. This retirement plan loan is available to you only if you are self-employed, an independent contractor, or own a business with no employees.
IRAs, retirement funds from a previous employer, or your current small business retirement plan can be transferred in any amount into your new Self-employed 401(k). Once these funds are in your Self-employed 401(k) you can borrow up to 50% of your account balance or $50,000, whichever is less.
The Self-employed 401(k) loan program has several great features:
- Low interest rate
- Easy online application and prospectus
- Loan and interest payments are repaid to your account
- Quick and easy process
- No credit check
- Your information is private and secure
When you compare the Self-employed 401(k) loan to other ways of withdrawing your retirement money and paying taxes and penalty, the Self-employed 401(k) loan allows you to keep more of your money.
|
IRA, 401(k) or
other Retirement Account |
Self-employed 401(k) |
| |
|
Transfer or roll over to Self-employed 401k |
$100,000 |
|
Cash distribution |
$50,000 |
Loan |
$50,000 |
|
Federal, state and local income tax |
- 20,000 |
Federal, state and local income tax |
0 |
|
10% early withdrawal penalty |
- 5,000 |
10% early withdrawal penalty |
0 |
| |
|
|
|
|
Available for your use |
$25,000 |
Available for your use |
$50,000 |
|
Hypothetical example assuming a combined 40% federal, state and local income tax bracket. Your tax bracket may differ. Consult your tax or legal professional for tax advice. |
This hypothetical example uses Class B mutual fund shares with no upfront sales charges. Your actual fees and sales charges may vary. Read prospectus for information on fees and other details before investing. Loans not repaid are subject to taxes. |
ACT Now to transfer or rollover your retirement funds into your Self-employed 401(k). Your funds must be in your Self-employed 401(k) account at least 15 days before you can take out a loan.
For information on opening a Self-Employed 401(k) plan or other small business retirement plans visit www.Investsafe.com
Securities offered by Lamaute Capital, Inc., member NASD/SIPC. |
