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Central IL | 15 years ago I pulled my IRA money to start a business. In spite of the penalty that original money has grown to about 35 times it's original value over those 15 years while also providing my family with an excellent income. In short it worked out as well or better than I had hoped. In hindsight however looking at the risks I took, if I had it to do over, I would have looked to borrow the money first and only cashed in the IRA as last resort. In a worst case scenario if the investment were to implode, retirement accounts are safe from creditors even during bankruptcies and may b the only thing left to provide for ones family. Not claiming to have the answer but just speaking to my experience. | |
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Finance question
