A risky startup strategy: Financing by 401(k)

10/15/2008 | Los Angeles Times (tiered subscription model) · Yahoo!

The ongoing economic upheaval is likely to unleash a wave of older entrepreneurs, and that will have a stabilizing affect, say some business experts. "People in the older age brackets are much more likely to successfully start companies than younger people," said Tim Kane, an economist at the Kauffman Foundation. There's already a worrying trend of middle-aged entrepreneurs using their retirement accounts as the ultimate in startup financing.

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Los Angeles Times (tiered subscription model) · Yahoo!

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