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Updated almost 4 years ago, 03/08/2021

Will Schryver's profile image
Will Schryver's profile image
Will Schryver
  • Investor
  • from Tampa, FL
  • Member since May 2, 2016
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51
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13
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Will Schryver's profile image
Will Schryver's profile image
Will Schryver
  • Investor
  • from Tampa, FL
  • Member since May 2, 2016
Connect
Will Schryver
  • Investor
  • Tampa, FL
13
Votes |
51
Posts
Starting Out

Anyone have experience using 401k to fund their LLC?

Will Schryver
  • Investor
  • Tampa, FL
Posted
Need any feedback or advice from someone who used their 401k to invest in their own company. I know I can get a loan (50% or up to $50k) but ideally I would like to have access to the entire amount without triggering taxes and penalties. Do I need a separate custodian to administer the new retirement plan and direct the new plan to invest all of the proceeds in my LLC?
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