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Entrepreneurs Find New Way To Finance Dream
Posted by nick_niesen on October 28th Daniel Carlson Jersey , 2010


Statistics show that more than one million people in the United States start a new business each year. That number would be much higher if all the would-be entrepreneurs had the financing required to get a business up and running. In order to accomplish their dream of business ownership, entrepreneurs are finding new and innovative ways to finance their new ventures.


According to Leonard Fischer, PresidentCEO of BeneTrends, one of these new financing options is the use of a person's existing retirement funds-a pension, profit sharing, 401(k), IRA-which allows that person to start the business he or she has always dreamed of without tax penalties, consequences or mountains of debt.


Under the Employment Retirement Income Security Act (ERISA), retirement funds can be transferred into usable capital for business investments or operations. If a person has more than $40,000 in a retirement account and is not currently employed by the company that holds those funds, he or she qualifies for this Small Business Administration (SBA)-recognized financing approach to start a business.


Retirement funds can be used for any business purpose, including:


• Purchasing a franchise or existing business


• Start-up expenses, such as purchasing property, equipment, etc.


• Working capital, including paying salaries, franchise fees, etc.


• Business expansion, such as funding additional franchises, locations, etc.


• Equity toward SBA or other loans.


The thought of dipping into one's retirement can cause some apprehension. Through this investment strategy an individual actually has more control over hisher retirement-instead of gaining minimal growth dependent on the stock market, those savings are actually being invested in one's own business. This approach often allows an individual to set aside more money for retirement than ever before.


"Today's entrepreneur faces an environment of tremendous competition, complexity and opportunity, so starting a business the right way is more important than ever," says Dr. Germain Boer, Director of Vanderbilt University's Center for Entrepreneurship. "This financing method is a good option for an individual who has accumulated funds in hisher retirement accounts."


The entire process generally takes two to four weeks to be completed, and can be done by phone, email, fax, FedEx and regular mail.


Working with an experienced employee benefits plan expert, starting a business is as simple as these four steps:


Step 1: Establish a C-corporation.


Step 2: The new corporation creates a retirement plan.


Step 3: Funds are rolled over into the corporation's new retirement plan.


Step 4: The new retirement plan purchases the stock of the corporation.


"So many people have watched their dream of owning their own business go out the window due to lack of funding options. We help people achieve that dream every day using money they already have," says Fischer.


If you're ready to explore this innovative financing option, be sure to consult an expert to guide you through the specialized process.


Your perspective





If you are aiming for a better version of yourself in the coming months, you have to let go of all the negativity. A fresh perspective is what you need. Surround yourself with inspiring people. Let go of bad memories and negative feelings. This time, your mantra should become positive. Your perspective will greatly influence pretty much the other aspects of your life. Be sure to steer your mind and heart to the right direction.





Your new look





Makeovers are always fun, especially when you do it with a purpose in mind. Aspiring for a better you will take work-a lot of it if you have not made attempts at self-improvement before. But hey, it's a new year. This is a good enough time to try new experiences. You can't feel better unless you see a better you in front of the mirror. Ask a friend to give you a new look if you have no idea how. Try out a little make up if you are a girl. Visit the dental clinic and have that gorgeous teeth of yours whitened. Sport a new hairstyle. If you can't love yourself after all this, you have a serious issue on self-loathing.





Your health





I supposed to write your body, but that did not seem motivational enough. If you take care of your health, a good body will just be a bonus for you. You have to give moiré attention to eating healthy food and a regular exercise. You also have to take care of your dental health. It's still part of your overall health. Always find the time to go to your dental clinic for a checkup once every six months. You and your teeth need that for a healthier body. A little vitamin won't hurt too. We need all the support we can get.





Your mind





Speaking of health, you should not neglect your mental health too. I'm not pertaining about the fine line between normalcy and insanity. That is a more clinical aspect of mental health. What I want to focus here is the knowledge and wisdom your mind can collect and create. Challenge yourself. Read extensively. Read everything: novels, cooking books, magazines, self-improvement books. They can do a lot to improve your mind. After your mind is fat with all these knowledge and wisdom, it will do you good to let out a few creations from yourself. Start a blog. Send a story to your local paper. Compose a poem. Heck, compose a song. I promise you. You will feel a lot better after giving the world all these creative treasures.
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