The power of compound interest - don’t cash in your 401-k to fund your business startup
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.)
Tags: 401-k, compound interest, ira, starting a businessRelated Stories
POSTED IN: Boomers nearing retirement, Business Plan, Finance, Small Business finance and taxes, Starting Up
0 opinions for The power of compound interest - don’t cash in your 401-k to fund your business startup
No one has left a comment yet. You know what this means, right? You could be first!
Have an opinion? Leave a comment: