Using Your Nest Egg to Start a Small Business
As access to loans becomes scarce, some middle-aged entrepreneurs are betting their retirement funds on small-business ventures.
About 16 percent of small-business owners have taken premature withdrawals or borrowed from their retirement accounts, according to a recent online survey of 512 small-business owners by Harris Interactive and ING Direct. “Raiding your retirement should always be a last resort,” says Stuart Robertson, general manager of ShareBuilder 401k, a subsidiary of ING Direct. “But, given the tough access to cash and credit … some small-business owners have made that difficult choice.”
Read more at US News and World Report
