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401k Early Withdrawal Exceptions | NO PENALTY - YouTube
Channel: The Freedom Strategy
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- Are you sitting there
trying to figure out all
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of those 401K early withdrawal exceptions
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so you can access your hard-earned money?
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Well stay tuned because
I am going to show you
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how you can access your 401K money
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without having to worry
about those exceptions
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and there's no penalty
and I'm not kidding.
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Well, if you are ready to buck the system
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so you can create
multiple streams of income
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so you can quit the corporate grind
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and actually enjoy your life,
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then subscribe to my channel.
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I put up new videos every Wednesday
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so make sure you hit
that notification bell
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so you can get notified when
my next video comes out.
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(upbeat music)
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You guys, I was so excited
when I learned this.
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I am Heather and I am here
to help you ditch corporate
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and create a freedom-based business
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so you can get on with
it and live your life,
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your dreams, your way.
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And today, I am going
to show you exactly how
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to tap into your 401K money
that you have already earned
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and not have to worry about
all of those exceptions.
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And I know because I did it
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and I even bought a boat with it
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and guess what?
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It is totally government-approved legit.
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Like this is a seriously real thing
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so I want you guys to
really pay attention.
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This is a game-changer.
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Now there are lots of ways to
access your 401K money early
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but most of those involve figuring out
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if you fall into one of the exceptions.
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There are a number of them.
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One of them is if you're
a first-time home buyer,
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you can get access to your 401K money
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without paying that 10% penalty
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plus you do have to pay
income tax on that money.
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So we're talking a huge amount of money
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if you want access to your 401K money.
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You're going to give up a lot of it
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but I'm not talking about
how to make sure you fit
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into one of the exceptions.
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Now many of you may already be aware
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but there is an avenue
called a self-directed IRA
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and that is where you have
control over your money
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and you can invest it in
things like real estate
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or individual stocks if you choose.
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And the self-directed IRA does
not have a penalty associated
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with it at all but I'm not
even talking about that
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because with a traditional
self-directed IRA,
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while you can start or
purchase a business,
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you cannot be an employee of the business
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and gain an income from it.
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That is what I'm talking about.
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That is where you are
going to actually be able
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to use your 401K money to
put money in your own pocket.
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It is actually a sub-category
of a self-directed IRA.
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Now if you fit that category,
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if you want to be able to access your own
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hard-earned 401K money
and put it to work for you
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so you can actually start
getting an income on it now,
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then type in the comments below,
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I want my money!
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So there is a special
category of self-directed IRA.
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It is called ROBS, which is
a Rollover Business Startup.
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Now, here is fundamentally how it works
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and this is why different
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from a traditional self-directed IRA.
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With a ROBS account, you can actually
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become an employee of
the business you purchase
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or start and start paying yourself.
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Now the income that you're
going to pay yourself
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that is generated by that business,
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that income is taxable as income tax
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but the 401K money that you already have
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and that was sitting there,
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that you rolled into
this new ROBS account,
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there is no penalty involved with that
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and it is not taxed until
you actually withdraw it,
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just like a traditional IRA or 401K.
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So it allows you to use and access
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your own money to build your own business,
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where you can be an employee
and actually get an income.
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It is genius!
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Now the best way to explain how it works
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is to probably give you
my own personal example
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that we did.
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So we had some money in a 401K
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but we really wanted
to start up a business.
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Now the business we chose to start
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is a sailboat charter rental business,
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which is awesome because now we have
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this really cool catamaran
that we purchased
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with our 401K money, no penalty,
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no taxes assessed to it
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because we rolled it
into this ROBS account.
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And in that account, a
corporation was created.
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That corporation starts its own 401K
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and that is what purchases
the assets for the business,
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in our case, the boat.
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Now to be very clear,
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this is a real and legitimate business.
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We really do have a boat.
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We really do charter it out.
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I'm gonna put a link to it
below just so you can see
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and it generates income.
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Now the best part is that
we can now be employees
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of that business.
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So when it's making money,
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we can pay ourselves and it
is completely legitimate,
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completely above board and
all we do is pay income tax
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on the income we generate.
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But none of the other money that was used
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to purchase the assets
or to run the business
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is taxed or penalized.
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So, again, this is the option for you
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if you want to create
or purchase a business
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and you want to be an
employee of that business
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and actually get money every single month.
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And that's what we do.
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So now you know the secret
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that you actually can
tap into your 401K money,
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not be penalized and not pay taxes on it
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until you withdraw it later in order
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to start generating an
income for yourself now.
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But it is a little bit complicated
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and there are only a handful of firms
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that handles this across
the United States.
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Now we use guidance and I will put a link
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to their informational PDF below.
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It is full of information.
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It is so well laid out.
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It is very clear.
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It is well worth your time to get that
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and look at it to see if this
is a good option for you.
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So if this video got you
excited about the possibility
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that you can actually access
your hard-earned 401K money,
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please subscribe, give it a like.
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And also, if you know somebody
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that's in the same boat as you are
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and they want access to their 401K money
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but feel like it's trapped,
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please share this video with them.
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They will be glad you did.
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I am very excited to be
with you on this journey.
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I hope you do get that PDF below
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because it will open up the
world of possibilities for you
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to create your freedom-based business
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and finally ditch the corporate grind.
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I will see you next time
on The Freedom Strategy.
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(upbeat music)
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