http://www.myinvestingblog.com/is-it-a-good-idea-to-use-your-roth-ira-as-your-emergency-fund/ Teach Your Money To Think! Fri, 10 Feb 2012 18:37:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.myinvestingblog.com/is-it-a-good-idea-to-use-your-roth-ira-as-your-emergency-fund/#comment-3252 James Fowlkes Thu, 03 Dec 2009 18:23:06 +0000 http://myinvestingblog.com/2007/10/17/is-it-a-good-idea-to-use-your-roth-ira-as-your-emergency-fund/#comment-3252 "Your ROTH IRA should be specifically for that. Retirement." I couldn't have said it better. Two completely separate goals. Emergency Fund absolutely must be liquid. You don't want to be pulling out of mutual funds or selling ETFs at a random time because your car breaks down. ING Direct savings account is a great place to keep your emergency fund. It's what I use anyway. “Your ROTH IRA should be specifically for that. Retirement.” I couldn’t have said it better. Two completely separate goals. Emergency Fund absolutely must be liquid. You don’t want to be pulling out of mutual funds or selling ETFs at a random time because your car breaks down. ING Direct savings account is a great place to keep your emergency fund. It’s what I use anyway.

]]> http://www.myinvestingblog.com/is-it-a-good-idea-to-use-your-roth-ira-as-your-emergency-fund/#comment-91 The 401k debit card? You’ve GOT to be kidding, right? Nope. - My Investing Blog Mon, 21 Jan 2008 08:23:38 +0000 http://myinvestingblog.com/2007/10/17/is-it-a-good-idea-to-use-your-roth-ira-as-your-emergency-fund/#comment-91 [...] Oh David, you’ve lost me now. I’m no longer on your side. I think you may need some education on this front also.CLEARLY the cards are “not for everybody,” they’re more like “not for ANYBODY.” This whole paragraph is ridiculous, what confidence can you get by undermining the whole point of a 401k plan? He goes on to mention that “their savings won’t be locked up for decades.” Oh, Dear God, help us all. First of all, that is the whole point of compounding interest, and secondly it is NOT savings. Savings are for Emergency funds. Retirement plans are for RETIREMENT! [...] [...] Oh David, you’ve lost me now. I’m no longer on your side. I think you may need some education on this front also.CLEARLY the cards are “not for everybody,” they’re more like “not for ANYBODY.” This whole paragraph is ridiculous, what confidence can you get by undermining the whole point of a 401k plan? He goes on to mention that “their savings won’t be locked up for decades.” Oh, Dear God, help us all. First of all, that is the whole point of compounding interest, and secondly it is NOT savings. Savings are for Emergency funds. Retirement plans are for RETIREMENT! [...]

]]> http://www.myinvestingblog.com/is-it-a-good-idea-to-use-your-roth-ira-as-your-emergency-fund/#comment-90 Should I use my 401k to pay off my mortgage? - myinvestingblog.com Thu, 29 Nov 2007 17:23:59 +0000 http://myinvestingblog.com/2007/10/17/is-it-a-good-idea-to-use-your-roth-ira-as-your-emergency-fund/#comment-90 [...] this) but you can take out the PRINCIPAL that you have put in to it at no tax consequence, but suggest against it - see response #1 at the top of this page and check out this post on it here. 3.  Just contribute [...] [...] this) but you can take out the PRINCIPAL that you have put in to it at no tax consequence, but suggest against it – see response #1 at the top of this page and check out this post on it here. 3.  Just contribute [...]

]]> http://www.myinvestingblog.com/is-it-a-good-idea-to-use-your-roth-ira-as-your-emergency-fund/#comment-89 The difference between ROTH and Traditional IRA - myinvestingblog.com Thu, 15 Nov 2007 00:27:17 +0000 http://myinvestingblog.com/2007/10/17/is-it-a-good-idea-to-use-your-roth-ira-as-your-emergency-fund/#comment-89 [...] The Roth IRA had an advantage when it comes time for disbursement of the account. With a Roth IRA, disbursements are tax free but these disbursements must be qualified. Contribution funds can be withdrawn at any time, penalty free, but don’t use that to fund anything else!  A ROTH should be for retirement!  Don’t use it for anything else! [...] [...] The Roth IRA had an advantage when it comes time for disbursement of the account. With a Roth IRA, disbursements are tax free but these disbursements must be qualified. Contribution funds can be withdrawn at any time, penalty free, but don’t use that to fund anything else!  A ROTH should be for retirement!  Don’t use it for anything else! [...]

]]> http://www.myinvestingblog.com/is-it-a-good-idea-to-use-your-roth-ira-as-your-emergency-fund/#comment-88 Moolanomy weekly roundup #13: “300″ edition | Moolanomy Sun, 21 Oct 2007 19:45:58 +0000 http://myinvestingblog.com/2007/10/17/is-it-a-good-idea-to-use-your-roth-ira-as-your-emergency-fund/#comment-88 [...] Is it a good idea to use your ROTH IRA as your Emergency fund? @ myinvestingblog.com — I would never use my retirement as an emergency fund. However, I think there’s a merit to this, which I will discuss in the near future. [...] [...] Is it a good idea to use your ROTH IRA as your Emergency fund? @ myinvestingblog.com — I would never use my retirement as an emergency fund. However, I think there’s a merit to this, which I will discuss in the near future. [...]

]]>