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re: Over Funding Life Insurance vs. Roth IRA
Posted on 11/7/13 at 9:17 pm to Alltheway Tigers!
Posted on 11/7/13 at 9:17 pm to Alltheway Tigers!
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 I've withdrawn from mine in the past and had funds in my bank account in 48 hours.
1
Posted on 11/8/13 at 12:44 am to ds1tiger
Correct. Roth principal is tax and penalty free. Monies converted from a traditional IRA to a Roth AND aged over 5 years are penalty free. Any earning on Roth principal are taxed and assessed a penalty unless owner is over 59 1/2 or a qualifying withdrawal. I am not sure you can replace principal that is withdrawn early from a Roth.
Funds in most cash value policy can be ETF to a checking account in less than 24 hours. If taken as a loan, these funds can be replaced. If taken as a surrender, limitations on replacements will apply from company to company.
Funds in most cash value policy can be ETF to a checking account in less than 24 hours. If taken as a loan, these funds can be replaced. If taken as a surrender, limitations on replacements will apply from company to company.
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