So, I was laid-off in September 2016 and have not been successful in landing another job since that time. I could start an entirely new thread on the trials & tribulations of this fiasco, but I'll save both you and I the time.
I took a portion of my severance earlier this year and opened a business for my wife (gonna pass on rule #1) for her to operate and manage. It's circling the drain right now, but that's expected seeing how it just opened its doors. I expect it to be self-sustaining in the 2019 or 2020 timeframe.
Once the business kicked-off, my goal has always been to go back to work so that we have the security of a "real job" with benefits. At the rate that I'm going on my job search, I've come to the realization that I may never land a role. I'm almost 50, so my age may or may not have something to do with my success (or lack thereof) in landing a job.
Any thoughts on me cashing-out my IRA to dedicate my time 100% to the business? Has anybody on this board ever done this before? Any insight or lessons learned? I don't like the idea of not having a nest egg set aside for down the road, but desperate times seem to now call for desperate measures.
Many thanks.
I took a portion of my severance earlier this year and opened a business for my wife (gonna pass on rule #1) for her to operate and manage. It's circling the drain right now, but that's expected seeing how it just opened its doors. I expect it to be self-sustaining in the 2019 or 2020 timeframe.
Once the business kicked-off, my goal has always been to go back to work so that we have the security of a "real job" with benefits. At the rate that I'm going on my job search, I've come to the realization that I may never land a role. I'm almost 50, so my age may or may not have something to do with my success (or lack thereof) in landing a job.
Any thoughts on me cashing-out my IRA to dedicate my time 100% to the business? Has anybody on this board ever done this before? Any insight or lessons learned? I don't like the idea of not having a nest egg set aside for down the road, but desperate times seem to now call for desperate measures.
Many thanks.