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1
Posted on 3/16/20 at 8:04 pm to Salmon
quote:we get a recession like every ten years
Most people are going to set aside $20k just in case the entire economy crashes
if you cant get your hands on enough cash to cover expenses for a couple months, within a month or so, you're doing something wrong.
Posted on 3/16/20 at 8:05 pm to yellowfin
quote:of course. but the amount of people who will be in dire straits due to missing work for a couple weeks is absolutely pathetic.
I have plenty savings but would rather not use it to pay bills due to a stomach bug
Posted on 3/16/20 at 8:06 pm to GreatLakesTiger24
Ok cool
So I’m doing it right then because I can get my Roth within a month
So I’m doing it right then because I can get my Roth within a month
Posted on 3/16/20 at 8:08 pm to JohnnyKilroy
no atheists in a foxhole
no libertarians in a pandemic
no libertarians in a pandemic
Posted on 3/16/20 at 8:09 pm to Pop
I have an emergency fund but it’s enough for a month or so
It’s mostly for unexpected home/car/medical expenses
and let’s not act like your Roth is anyone’s primary retirement fund
It’s mostly for unexpected home/car/medical expenses
and let’s not act like your Roth is anyone’s primary retirement fund
Posted on 3/16/20 at 8:16 pm to GreatLakesTiger24
You can frick your pompous arse right off. This isn't a recession and there wont be opportunities to go find another job for those who lose theirs. This government action is extreme
Posted on 3/16/20 at 8:16 pm to Salmon
Didn’t you just say your emergency fund was in a Roth IRA? A Roth is designed to be a retirement fund. Not your only or main fund necessarily, but a retirement fund nonetheless. An emergency fund needs to be in something liquid that you can use when needed without having to pay taxes and a penalty to use it.
Posted on 3/16/20 at 8:18 pm to Pop
Yes my Roth is my “all is lost last resort fund”
So it’s my real emergency fund, not my normal everyday day emergency fund
And you don’t pay taxes on money withdrawn from a Roth nor are you penalized for taking out the money you put in, so...
So it’s my real emergency fund, not my normal everyday day emergency fund
And you don’t pay taxes on money withdrawn from a Roth nor are you penalized for taking out the money you put in, so...
Posted on 3/16/20 at 8:19 pm to GreatLakesTiger24
What is your net worth?
Posted on 3/16/20 at 8:25 pm to Salmon
True if it’s after you reach retirement age. Try taking it out sooner and see what happens.
Posted on 3/16/20 at 8:26 pm to Pop
Uh no, you can withdraw roth contributions anytime without taxes or penalty
You just can’t withdraw earnings
You just can’t withdraw earnings
Posted on 3/16/20 at 8:26 pm to nugget
quote:
What is your net worth?
I'd be interested in the answer too.
Posted on 3/16/20 at 8:29 pm to nugget
it's impossible to say in times like these
Posted on 3/16/20 at 8:29 pm to nugget
quote:
What is your net worth?
better off asking his parents worth, that's what tides him over.
Posted on 3/16/20 at 8:29 pm to Salmon
quote:
Most people are going to set aside $20k just in case the entire economy crashes
No most people certainly can't.
Good to have a liquid E fund though if you can manage.
Posted on 3/16/20 at 8:30 pm to Mo Jeaux
I find getting lectured on finances by someone making 60k a year pretty ironic. And he does it all the time.
Posted on 3/16/20 at 8:30 pm to nugget
what have i been wrong about? i'm all ears
Posted on 3/16/20 at 8:31 pm to GreatLakesTiger24
quote:
it's impossible to say in times like these
Mark to market, brah.
Posted on 3/16/20 at 8:31 pm to Pop
I do!
I contribute to a 401k and have a credit line I can access at my credit union if necessary.
But my situation is not normal.
I make more than most of the OT but over 3k a month(after taxes) goes to child support and tuition.
The kids are approaching adulthood and there's light at the end of the tunnel.
I won't always be poor but I'll always be humble. And the OP is a fricking cocksucker.
I contribute to a 401k and have a credit line I can access at my credit union if necessary.
But my situation is not normal.
I make more than most of the OT but over 3k a month(after taxes) goes to child support and tuition.
The kids are approaching adulthood and there's light at the end of the tunnel.
I won't always be poor but I'll always be humble. And the OP is a fricking cocksucker.
This post was edited on 3/16/20 at 8:32 pm
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