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re: Emergency Fund
Posted on 2/26/10 at 3:37 pm to Dusty Bottoms
Posted on 2/26/10 at 3:37 pm to Dusty Bottoms
quote:
Ok ... so please explain how you would invest an emergency fund
I'll take it a step further and COMPLETELY disagree with those saying you should not use a Roth IRA as an EF vehicle. A Roth is an excellent place to put it, assuming you are not already maxing out on contributions and have satisfied the minimum term requirement for penalty free contribution withdrawal. Why? Because you can use it if you need it with no repurcussions; and if you don't need it (as will be the case for most) you have funded one of the best and most flexible retirement vehicles out there.
1
Posted on 2/26/10 at 3:44 pm to Dusty Bottoms
quote:
no repurcussions
If you have to withdraw the money you can't just put it back in when you recover from the emergency. You can only contribute the max per tax year no matter if you have withdrawn previous contributions or not.
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