- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Taking money out CD and putting into Roth
Posted on 11/25/14 at 8:40 am
Posted on 11/25/14 at 8:40 am
Good idea, bad idea, or doesn't matter?
Seems like it's a no brainer, but the Fiance' asked and before I gave her a definite answer figured I'd consult the pros.
Seems like it's a no brainer, but the Fiance' asked and before I gave her a definite answer figured I'd consult the pros.
4
Posted on 11/25/14 at 9:04 am to LSUengineer12
It depends...a CD is covered by the bank's deposit insurance and earns at a fixed rate. IOW, it will not go down in value.
A Roth is just a type of retirement account, and you will still need to determine how the funds in the Roth are invested. Depending on your investment choices, funds in the Roth can indeed erode in value.
A Roth is just a type of retirement account, and you will still need to determine how the funds in the Roth are invested. Depending on your investment choices, funds in the Roth can indeed erode in value.
Posted on 11/25/14 at 9:19 am to LSUengineer12
When does the CD mature? 3 months from now I would wait it out, 3 years from now may be a different story.
Posted on 11/25/14 at 10:03 am to LSUengineer12
If money will be needed near term, maybe hold off. If money is for long term investing, sure.
Posted on 11/25/14 at 11:08 am to LSUengineer12
Just keep in mind there are tax issues in taking money back out the IRA (can only withdraw principle I believe). So, its a little less liquid.
You would really just be putting your funds in a different investment vehicle, so it depends on what your goal is for this cash. However, a CD is pretty damn worthless at the moment. I would put in Roth if it is truly a long term investment, but would also consider transferring to savings if you don't have a safety fund saved up already. Newly weds can come across some hefty expenses, and there will be an adjustment sharing money.
You would really just be putting your funds in a different investment vehicle, so it depends on what your goal is for this cash. However, a CD is pretty damn worthless at the moment. I would put in Roth if it is truly a long term investment, but would also consider transferring to savings if you don't have a safety fund saved up already. Newly weds can come across some hefty expenses, and there will be an adjustment sharing money.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News