From Employee to Business Owner - What about My 403b

[LissaValerian]

Greetings!

I am transitioning from employee to business owner. I am starting my own business. I currently have a 403b from the company that I have worked for, for a while. I'm 38. It's not a grand amount, but It's still something. I'm wondering what I should do when I finally separate from my company. What should I roll it over into? I've been investigating different options, but I'm curious what others experiences have been, particularly small business owners. I'm not looking for "financial advice" obviously, I'm wanting to hear others experiences with starting their own businesses and how that impacted their retirement planning.

On the "risky" side, I was considering using my retirement to supplement my business, but I understand that comes with hefty tax penalties.

Any comments on that idea?

Thanks in advance,
~LissaValerian

[bika]

I have no idea. I know you dont want any reply that doesnt contain any idea but being always broken I feel strange 30b is how much in a size?

[LissaValerian]

Well, it's not a lot, although it's a start. It's around about $50,000. I'm just not exactly sure what to *do* with it. Of course, I know I'm not expecting real financial advice, I'm just curious what other people would do if they were in a similar situation.

Thanks,
~LissaValerian