When it comes to starting a business, I know people have a lot of questions that need an expert's advice. People may know a lot about their product or service, but the legal and funding side of a business can get complicated very quickly.We know that in the current economic environment it can be difficult to secure funding of any kind. Well there is hope on the horizon!
More and more entrepreneurs who were in careers that fell apart during the last recession are taking advantage of their retirement funds to help finance their businesses. They are funding their businesses using their IRA or 401(k) without penalty. Did you even know you could do that?
You have probably heard these variations of these questions before:
Can I use IRA money to fund a home-based, non-franchise business without penalty?
Can I parcel out a portion of my 401(k)?
How can I use my SEP IRA as a cash injection into my small business?
How can I utilize an IRA from which I am currently receiving 72(t) distributions?
Do I have to move all of my 401(k) or IRA at once or can I do it over a period of time?