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re: Over Funding Life Insurance vs. Roth IRA

Posted on 11/7/13 at 8:21 pm to
Posted by Alltheway Tigers!
Baton Rouge
Member since Jan 2004
7183 posts
Posted on 11/7/13 at 8:21 pm to
quote:

ds1tiger Over Funding Life Insurance vs. Roth IRA Also note that you can withdraw your contributions from your Roth at any time without penalty. It can be a makeshift emergency fund if need be.


Roth is not that liquid and especially not for an emergency fund.
Posted by Teddy Ruxpin
Member since Oct 2006
39617 posts
Posted on 11/7/13 at 8:28 pm to
quote:

Roth is not that liquid and especially not for an emergency fund.



You can have your ROTH funds liquidated in a matter of days.

What kind of emergency are you dealing with where that isn't enough time?
Posted by ds1tiger
Closer than you think
Member since Apr 2006
359 posts
Posted on 11/7/13 at 9:17 pm to
quote:

Roth is not that liquid and especially not for an emergency fund.


Unless you need the funds in 24 hours or less, it can be a useful emergency fund. I've withdrawn from mine in the past and had funds in my bank account in 48 hours.
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