The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Retirement Savings

Status
Not open for further replies.

santiago

Contributor
Aug 20, 2007
108
25
22
I used to think that traditional saving for retirement by socking away money into a 401k and/or IRA to pull it out when you retire would be a "slow lane". Whenever I had cash to put into the retirement vehicle, I'd say "but I could make it grow more by investing that back into my business, etc." So, the end result is I have very little stored away in "retirement savings" BUT have equity in businesses, real estate, etc. Now I'm starting to re-think especially given tax savings.

So..do you guys put money into retirement accounts or pile all of your free cash into current biz activities..??

Any advice/thoughts would be very helpful!
 

Don't like ads? Remove them while supporting the forum. Subscribe.

JScott

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Speedway Pass
Aug 24, 2007
4,203
8,117
1,961
I max out my retirement savings...

I believe that if I can't afford to put away the $15-20K a year I'm allowed to save tax-free, I probably can't afford to be without a retirement savings in the first place... :)
 

Diane Kennedy

Bronze Contributor
Aug 31, 2007
795
209
49
We had a thread like this called something like "saving/investing while building a business."

Some of the main issues were:

- Can you use the money to build your business instead?
- Can you self-direct the money you put in retirement savings?
- Will a big pension plan contrib get you out of AMT issues?
 
OP
OP
S

santiago

Contributor
Aug 20, 2007
108
25
22
Thanks for the responses-

Diane, that thread sounds exactly like what I'm looking for - I'll see if I can dig it up..
 

andviv

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
Summit Attendee
Speedway Pass
Jul 27, 2007
5,419
2,190
625
Washington DC
Closed this thread... as Santiago mentioned, this is the other thread that talks about this.
 
Status
Not open for further replies.

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Sponsored Offers

Lex DeVille's - Advanced Freelance Udemy Courses!
-- HALLOWEEN SPECIAL STARTS TODAY! Get any of my courses at Udemy's current best price through Friday! Use code: HALLOWEEN Use any of the links...
Top Bottom