B&B Insurance is the Key!

Insurance is the key to feeling secure while you’re building your business or expanding your family. B&B Insurance is here is help you make these decisions, and we will always be there for you during your life-long process. Come to B&B Insurance to discover the security you may be looking for. We will not disappoint you, and everything will be covered to your maximum requirements.

When you visit our website, you will find a complete resource for all of your insurance needs. Insurance is crucial to everyone’s success, and you should only be in the best hands. B&B offers everything under one roof, and we will cover you from beginning to end. It’s a great day here at B&B Insurance! Come to our office today in order to secure your future. Call us at 561-586-9043.

Using Your 401(k) to Fund Your Business Start-Up?

This article tackles the tough decision of when it's a good idea to start up a business. Many near term retirees are considering tapping into their 401(k) plans to fund their dream of becoming an entrepreneur. The rule of thumb is to stay away from your retirement savings until it's time for your to retire. Read the stories of business owners who chose to take a different route.

As he researched financing options, he came across ROBS, or Rollovers as Business Startups. These allow people to use the money in their 401(k) to start a business (or buy an existing one) without paying taxes on the withdrawn funds or getting hit with an early withdrawal penalty. The process can be pretty complicated, however. First, you must incorporate a business and open a new 401(k) plan under it. Then you roll your existing 401(k) funds into the new plan. Since both accounts are tax-exempt, you avoid taking the tax hit. As owner of the new company, you can now direct what the 401(k) invests in. 

— Parija Kavilanz