Has anyone heard of BeneTrends, Inc. They say they have a leagal way to transfer 401k funds to franchise/business without penalty. Has anyone used the “Rain Maker” plan or does anyone know what tax loophole they are using or if they are even legit?
http://www.franchiseopportunities.com/Zor_610050/Benetrends.htm
2006-12-19 07:41:38 · 1 answers · asked by Ralph 7 in Business & Finance ➔ Other - Business & Finance
If you need to ask here, then you can bet this is just a scheme to take your money away from you ..
A 'franchise' business is way way for them to take your money at no risk to themselves ... look at their 'Disclaimer'.
Typically you have to pay them for everything (at XX% mark-up) PLUS you pay them some fixed 'commission' for all your work.
If it goes bad you still have to pay them ... you could loose all your retirement money (and maybe your home too).
2006-12-27 07:24:01 · answer #1 · answered by Steve B 7 · 0⤊ 0⤋