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Rolling Over Your 401k without Penalty

Written by: Doug Schadle

Article Overview: Many people who want to open their own business don't think it would be possible because of the huge start-up cost and their lack of money. Well here is the idea of rolling over your 401k as your investment, without penalty, to start your own franchise. This offers hope to people who have wanted to work for themselves but never thought it possible.

Rolling Over Your 401k without Penalty

There is a lifeline for the hundreds of thousands of unemployed folks in the country who are lost and don't know what to do with their shattered careers and lives. Did you know you can tap into your own 401K without penalty and invest in yourself? You can borrow from your own nest egg, without paying taxes , invest in your own company and put your money with the person you trust the most - you! Most folks believe you have to be wealthy to open a business, but really it's just the opposite. I've helped regular, hard working people all over the state of North Carolina and throughout the country open businesses using their own 401K money. As CEO of a franchise development company out of Apex, NC I have helped folks put their retirement money to good use by opening up a franchise business - a tried and true business model, eliminating the major risk of starting a company from scratch. In this current economic situation, you need to find a business that will continue to prosper through the recession.

As part of President Obama's new stimulus package, the government is making it easier than ever before to get a small business loan which makes the option to start your own business that much more available.

Like I said, many people veer away from starting their own business and buying a franchise because they do not think it can be cost-feasible, but that is where the idea of rolling over your 401k as your investment, without penalty, comes in to play. Remember, there really has never been a better time to start your own franchise with the money that is being given out to small businesses through the new economic stimulus package, and if you buy into a recession-resistant franchise, you can smile to yourself while other people continue to fall into the economic pit.

I hope you look into this idea of rolling over your 401k or contact me for a more detailed view. On top of that, go to Youtube and search "Did you know you can roll your 401k into a Franchise without penalty?" and check out where I go into full detail about the opportunity.

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Article Tags: 401k, apex nc, better time, business model, buying a franchise, current economic situation, economic stimulus package, franchise business, franchise development, lifeline, nest egg, obama, own business, paying taxes, recession, retirement money, small business loan, state of north carolina, true business, youtube



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Profile: Julia Cameron: journalist, screenwriter, poet, nove - Julia Cameron will be one of our featured speakers at the Ladies Who Launch NYC Speaker Series taking place on April 28. Click for more info. Julia Cameron is an accomplished journalist, screenwriter, poet, novelist, and playwright. But mention her name in conversation and inevitably it will be linked with The Artist's Way, a workbook for those looking to discover or re-discover their creative selves, which was initially published in 1992 and has sold over 3 million copies. Cameron grew up in Chicago and began her career writing for the Washington Post and Rolling Stone (where she met director Martin Scorsese, whom she married in 1975 and later divorced). While married to Scorsese, she worked on the screenplays for two of his major films: Taxi Driver and New York, New York. Cameron's first musical, Avalon, was staged in 1998. At 60, Cameron continues to follow the advice she espouses in The Artist's Way: jotting down her thoughts daily in her "morning pages" and channeling her artistic vision into a variety of projects. Below, read how Cameron fends off writer's block (yes, even she suffers from it sometimes), calls on friends for guidance, and dispels the myth that writers need to be miserable to be good. what we learned from julia: "If you're good at doing one thing, you should keep doing it. In England, writers are novelists, playwrights—the word 'writer' covers a wider spectrum of activity." She also said to take a bet on yourself; she did, and it's paid off. her true calling "I was born to write. All my brothers and sisters—there are seven of us altogether—are in the arts. My father was in advertising and mom had a master's degree in English and wrote poetry. By the time I was in sixth grade with Mrs. Klopsch, I was already writing short stories and poems." investigating journalism "My goal was to write short stories. When I was offered a job at the Washington Post, it seemed like a good way to kill two birds with one stone. I enjoy writing in any form. I was proud of my Rolling Stone pieces. I wrote one about E. Howard Hunt's children. I remember getting in trouble with William F. Buckley. He called my house in Chicago because he thought it was a terrible thing I'd interviewed the children—he was their godfather. My first taste of celebrity was getting a good scolding. During my 20s I was a blind beginner. In my 30s I was a lot more conscious about what I wrote." screenwriting savvy "My early screenwriting was for my husband at the time, Martin Scorsese. I worked on Taxi Driver and on New York, New York. When Marty and I got divorced, I had a screenwriting career to pursue. I sold movies to Paramount. They bought the movie but didn't make it. I was frustrated, so I took the money I earned writing for Miami Vice and made a feature film in Chicago." sobering experience "1978 is the year that I got sober. My wild ways came screeching to a halt. I needed to find a way to write sober. I had always associated writing with drinking. We have a mythology around creativity that's destructive. We think you have to be broke, alone, neurotic, addicted. None of these things is true. When I got sober, I had to find a way to work soberly. I was 29, and I had a daughter who was a year old." do it for love, not money "I've never had to be paid to write. I published two novels. I have a musical opening in Chicago in the fall. Last year I had a play in L.A. The trick is to not need a guarantee and to be willing to write no matter what. Right now I'm writing a sequel to [my novel] Mozart's Ghost, which came out on Valentine's Day. I did the novel without a contract. I bet on myself." the power of friendship "It helps if you have friends who believe in you. My friends read my first drafts. A lot of times they will believe in a project when I'm getting rejected. We underestimate the importance of having one strong friend. The telephone is a wonderful ally to combat the isolation of being a writer, as is e-mail. If you know what your friends are doing, it's harder to feel lonely. I also think writing is its own companion. You're not lonely when you're actually writing." a typical day, the artist's way "I get up late. If I can, it's noon. I write my morning pages first thing. I ask for guidance and sit quietly and see if there's anything I need to be doing. I usually work on the music [for my upcoming musical]. I have a collaborator, Emma Lively, and we've written three musicals together. We work for a few hours. Then I put in a couple hours of prose writing. I sometimes don't get out of the house until 5:30. I try to get a walk in every day." overcoming writer's block "I use the same unblocking tools that I teach my students. They make you much more alert to the signals. I grapple with writer's block right away. Morning pages [three pages of writing about anything that comes to your head] are one such tool. I've been writing them for 25 years. In The Artist's Way, I also write about "blasting through blocks." By listing any angers, fears, and resentments related to a project, that often clears the decks right away. Emma and I have been hired to write music for a one-woman show. I feel blocked around it. I take a look at my ego—I'm not used to working FOR people anymore. I need to be a beginner again. Hopefully once I surrender my need to be the boss, it'll work out." favorite books "Tim Farrington is my favorite writer. He's written two books—The Monk Downstairs and The Monk Upstairs. He's so funny and deft, and he was the inspiration for me to write Mozart's Ghost. I dedicated the book to him." daily must-reads "I read a little teeny book called Twenty-Four Hours a Day that was put out by Hazelden. It's a meditation book. I also read Creative Ideas by theologian Ernest Holmes, which was originally published in 1934. They just re-released it, and I wrote the intro. Right now I'm reading My First Five Husbands by Rue McClanahan and Drinking: A Love Story, a memoir by Caroline Knapp." most rewarding career moment "I think I'm sort of singular in that I like book tours. I meet people who say I used your tools and they changed my life and this is what I did with them." scariest career moment "Watching my first musical go up in 1998. It's scary. I just heard the music so beautifully in my head that it was hard to deal with some of the compromises of getting it on the stage. I was sitting in the back of the theater saying, 'It's brilliant. It's awful." on networking "I think it's most important that we do the work and then have something to network about. Sometimes people want networking to be a shortcut or a guarantee. Networking gives you a sense of the possible. I have a number of women friends in their 70s and 80s and they are a tremendous source of inspiration. One runs a horse ranch. One got a master's in poetry at 75. One is in her 80s and is still an active actress. I believe that other women are inspirational." parting thoughts... -"I am happiest when ... I'm writing." -"Success to me means ... creativity." -"The public figure I wish most would read The Artist's Way is ... Warren Beatty. I don't know if he has." -"I will always think of myself as ... a good horseback rider." -"My business would not have happened if ... I waited for guarantees." -"The most important thing I do every day is ... stay sober. I have 30 years without a drink." This Featured Lady was profiled by Michele Shapiro, a writer living in New York City.


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