It is been said that we are living in one of the worst economic time since the great depression. Banks are no longer lending like they used to. Money is tight, loans and credit lines are harder to come by. Retirement plans are down by up to 50% or more, and the government is looking to increase the amount that businesses and business owners must pay in taxes. There is no doubt that it is getting harder and harder for business owner like you.
If you’ve recently tried to get a loan or a line of credit from a bank, you know exactly what I am talking about. Even though you may have more money in your retirement plan than you’re looking to borrow, you’ll still have to; file an application with the bank, tell them exactly what you are going to use the money for, provide them with financial statements and possible audited statements on an ongoing basis, prove to them that you have the ability to repay, show them your past 3 or more tax return, provide them with a business plan, let them check your credit, put up some sort of collateral and still provide them with a personal guarantee.
By the time you’re finished dealing with the bank, you’ll have to start paying your various taxes, you know the ones; sales and use, fica, medicare, social security, unemployment and of course the dreaded income tax, after all of this, you might start wondering who really owns your company, you? the bank? or the IRS? Traditional business financing is failing and it may be costing you tens or even hundreds of thousands of dollars or more in unnecessary expenses, taxes, exposure.
It doesn’t have to be this way, hundreds of business owners have discovered an entirely different way to finance their businesses, and you can too, one that puts you back in control instead of the bank. Imagine being able to access capital without having to apply and without having to show your financial, without having to have your credit checked and without the limitations of government sponsored retirement programs. All while reducing your taxes and protecting your assets from: vendors, creditors, judgments, sounds too good to be true? It’s not, there is a better way. A way for you to become your own banker, a way for to take back the control of your own finances and create a more tax efficient way for you to fund your retirement, so you can start paying yourself all of the interest that your currently giving to banks, finance companies.
By taking control of the banking process, you’ll soon be in a position to stop supporting the employee and share holders or other banks and other finance companies to all interest that you paying to them and instead use that money to support you and your family. Taking control of the banking process will prove to be the wisest decisions of your lifetime.
For more information contact a True Financial Age Advisor.
