Using your 401(k) to launch your business

02/21/2013 | Huffington Post, The

Tapping your 401(k) to provide funding for your startup, as allowed under the IRS's Rollovers As Business Startups project, is a risky move, but some entrepreneurs have made it work. The project allows the use of 401(k) funds without the usual tax penalties for early withdrawals. "It's like going to Vegas. You should only take what you can afford to lose," said Frank Mastronuzzi, who used his 401(k) to launch OneGoodLove.com.

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Huffington Post, The

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