Should I liquidate my 401K to start my business?

I want to start my own business but unfortunately I already have a mortgage and 2nd. I can't borrow anymore. Still I feel sure I can make my business a success so should I liquidate my 401K and just pay the 10% penalty rather than miss the chance? I figure if I wait to pay down my debt it will take 5 years.

The business is really going to going to be three seperate enterprises; marketing consulting, business financing consulting and professional mixed martial art fighter managment

Does your consulting company really require that kind of capital to launch? I'd say go for it - if you think you have what it takes you'd be foolish not too

What's your business?

The taxes will be huge! Check with your tax man before you make the decision.

Tags

　　Capital Investment 　　Business Investment 　　Business financing 　　Business Invest 　　Business Debt 　　Bond Investment 　　Angel Funds 　　Alternative Investment

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