10-31-2007, 03:25 PM
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#1 |
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Greenhorn
Join Date: Jul 2006
Posts: 35
Rep Power: 6  |
Are 401k, IRA, or IRA-Roth considered liquid assets?
I know I should not touch these until I am at retirement age but if worse came to worse for starting a business or franchise, it would be a last resort.<br />
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10-31-2007, 03:25 PM
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#2 |
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Greenhorn
Join Date: Apr 2007
Posts: 17
Rep Power: 0 |
Are 401k, IRA, or IRA-Roth considered liquid assets?
I know for mortgages they are generally considered liquid assets at a certain percentage, due to the penalties and taxes.
You should confirm with a lender that they are considered this way for business loans. If you get the point of tapping retirement assets in a crunch, withdraw your ROTH IRA contributions first(they have been taxed and are penalty free). |
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10-31-2007, 03:25 PM
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#3 |
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Greenhorn
Join Date: Jul 2006
Posts: 28
Rep Power: 6 |
Are 401k, IRA, or IRA-Roth considered liquid assets?
To go into all the specifics of this financial business would require posting a novel and that would be a fictional novel because I would be speculating most of the time. For franchise information you should look to FranchiseGator (http://www.franchisegator.com) which has a lot of information about the financial side of starting a small business. Once you have researched from there you will have a much better sense of what is best for you.
Hope this helps, best of luck |
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