<prompt> Human: Due to medical reasons, my husband cant physically do the job he has had for 31 years. He is able to retire. In order to retire, he wants to start his own business. We have quite a bit of money 700,000 in 401K. We can roll, take it out, etc. If we take our 125.000 to start our business, what taxes will we pay on this? He is only 50. We live in Ohio. We need 65000 to get started. Please dont judge us. If you only knew. I just need advice. When he retires, in 2018, our income will drop to 100,000. He has to do something to replenish the savings and continue working.  <response>: Do you have a business plan? Have you talked to your local small business authoritybootcamp or whatever its called in your area?I think its a mistake to take money out of the 401k. Thats not all that much if youre 50 and are used to a lifestyle of 130kyear. 