Small Business Boomers

Many people don’t go into business because of the uncertainties, lack of success guarantees, and the unfamiliar.  They’re hesitant to try something new.
Even with failure, comes learning, one of my readers commented on Jean Murray’s post,  Should You Use an IRA to Fund Your Business?
“In fact I would argue the lessons learned from starting a business would be worth the cash you spend even if you aren’t profitable and go out of business. People are so scared nowadays to do anything out of the norm- but the ones that step out of his or her comfort zones and defy the norms are …read more

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I found a good article that follows up on my recent post about using an IRA to fund your business startup.
This article points out what you’ll lose if you cash out before 59 1/2. It also is another dramatic example of the power of compound interest. I teach this subject to Millenials and they are always surprised at the calculations. Once, one young man asked me if I made up the numbers! (Another example of compound interest, showing that there is no substitute for starting NOW to save.)

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