A caller from St. Louis dreams of opening a wedding venue in her local wine country. Despite $100,000 in her 401(k), financial stability is complicated. Personal finance expert Dave Ramsey advises against tapping into retirement funds for a business, stressing the importance of paying off personal debt first.

Starting a small business can cost around $40,000 in the first year. Research costs, become debt-free, and consider alternatives to borrowing from a 401(k). Ramsey suggests starting small, testing demand, and reinvesting profits to reduce the risk of failure.

Draining retirement savings to start a business while carrying personal debt is risky. Ramsey’s advice: get out of debt, do your homework, and start slow. With patience and planning, your dream can become a reality without jeopardizing your financial future.

Read more at Yahoo Finance: ‘people who leap get wet’