- Joined
- Sep 18, 2023
- Messages
- 20
Rep Bank
$245
$245
User Power: 145%
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).
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
