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Message
re: Vanguard Roth IRA- STAR or Target Retirement
Posted on 11/5/13 at 3:06 pm to YankeeDoodle
Posted on 11/5/13 at 3:06 pm to YankeeDoodle
What is the point of this?
Retirement Supplement/Emergency Fund?
If you need it, it's there, if you don't, Miller Time at 59.5?
Then yeah, STAR is an excellent choice of balancing return with volatility.
Remember though that you can only really take out what you put in with no penalty (which is a benefit in my case....I can take out earnings from the emergency fund segment tax free thanks to contributions to the retirement side) so its to your advantage to put a fair amount in.
Also, you are allowed to take out 10k of earnings tax and penalty free for the purchase of your first house.
Retirement Supplement/Emergency Fund?
If you need it, it's there, if you don't, Miller Time at 59.5?
Then yeah, STAR is an excellent choice of balancing return with volatility.
Remember though that you can only really take out what you put in with no penalty (which is a benefit in my case....I can take out earnings from the emergency fund segment tax free thanks to contributions to the retirement side) so its to your advantage to put a fair amount in.
Also, you are allowed to take out 10k of earnings tax and penalty free for the purchase of your first house.
1
Posted on 11/5/13 at 3:52 pm to Volvagia
quote:
What is the point of this?
Retirement Supplement/Emergency Fund?
Basically this. I just want to get more out any extra money that I have rather than letting it sit in a lower interest online savings account.
quote:
Remember though that you can only really take out what you put in with no penalty (which is a benefit in my case....I can take out earnings from the emergency fund segment tax free thanks to contributions to the retirement side) so its to your advantage to put a fair amount in.
So from my understanding, I can take out whatever I put in after 5 years penalty free (or can I do that even before 5 yrs?). But I have to wait until I am 59.5 years old to take out the earnings penalty free right? Minus house exceptions and the other type of things.
This post was edited on 11/5/13 at 3:58 pm
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