Does my spouse need to work in my ROBS 401k Business?

December 15, 2022 | By George Blower

ROBS 401K Business Financing Question Answered: Does my spouse need to work in my ROBS Business?

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ROBS 401k FAQ: Does my spouse need to work in the business?

QUESTION:

I am using the ROBS 401k plan to fund a commercial cleaning franchise. We will only use my retirement funds. Does my spouse need to work in the business?

RESPONSE:

If only your retirement funds will be used, your spouse does not need to work in the business.

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Tags: robs 401k, robs 401k program, robs program, rollover as business startup, spouse, use 401k to buy a business, use ira to buy a business, working in business

About George Blower

I have the privilege of educating our clients about our products and services so that they can make informed and confident decisions about their financial future. Prior to joining My Solo 401k Financial, I served as the general counsel for a subsidiary of a Fortune 500 financial services company. Learn more about George Blower and My Solo 401k Financial >>

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