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

Retirement Savings

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

Status
Not open for further replies.

santiago

Contributor
Aug 20, 2007
109
30
35
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
Speedway Pass
Aug 24, 2007
4,551
9,905
2,201
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
211
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?
 

santiago

Contributor
Aug 20, 2007
109
30
35
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
5,421
2,215
625
Washington DC
Closed this thread... as Santiago mentioned, this is the other thread that talks about this.
 
Status
Not open for further replies.

Sponsored Offers

  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Hi Mj, I just bought it. And reading it. I think is a great idea to write using the stories to...
  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2020
Great post @Fox, very much appreciated! How can I reach out to you? I sent you a PM a while...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Hey @Lex DeVille ! Having some issues with the NOREGRETS code? Udemy thinks it has expired...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Are you looking for a new, lesser-known but potentially very lucrative source of leads to your...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Just got off the phone with @LightHouse. Having just a 45 minute conversation with him has...
  • Sticky
MARKETPLACE Kill Bigger Incubator
@Kak Thanks for the reply. Whats interesting is that I have an idea that's been cooking which...



Forum Sponsor

sponsor

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.

Top Bottom