Should I Use My Roth IRA as an Emergency Fund?
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- Опубликовано: 22 май 2024
- Should you use your Roth IRA as an emergency fund? Is it a good idea?
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Another video. Can we talk about how you typically know when your car has only a few years expected on it and that ypu should atart saving for that, once again in a CD cuz once you have the 20-30k saved up for a decent vehicle you wont have that 8%+interest rate. Takes maybe 2 years tp save up but 2 years of no 8%+ interest
I think the idea of the question is fair… if Roth limits didn’t exist. You can pull out contributions without penalty and your Roth is getting better yields than a HYSA, but you can’t replenish the Roth the way you can a HYSA.
I’m assuming that’s why he asked.
Hello I enjoy and learning a lot from you. Please let me know the Roth IRA rules. Withdrawal from Roth IRA. I just lost my job. Thank you
I’m sorry that you lost your job. Find out how much of your Roth IRA is in contributions. Are you tracking your savings? Some other questions I would ask is how fast you can find the next job and how much cash you currently have to cover your expenses. Reduce your expenses as much as you can while you’re hunting for your next job.
Does an emergwncy fund in CD's and/or government bonds. Since taking money out of those juat means i lose the interest, not extra money and its relatively liquid?
Every so often, when the stock markets are at all time highs....i take out a loan from my 401k.
Last time i did this, took out 40k loan. This was 4 months before the pandemic and the stock market tank of 2020.
Its like locking in gains by taking $$$ out of stocks when they are at all time highs.
2024 is looking like a good time to take out a loan again.
Hi, What confuses me about the Roth IRA is the investing you do with the money in the IRA. Ex, if I invest in tech stocks within the Roth, does the untaxed benefits apply? Thanks
Roth IRA is all tax free growth since the money you contribute is post tax.
You made a post tax contribution then the earnings from your post tax contribution is growing tax free. You can check out my Roth IRA tutorial on my channel
@@FIREPsyChat copy, buy Roth IRA is post tax. Is the additional steps fit post tax contributions? Ill definitely check out the video. Thanks for all the great info. Really good channel
Absolutely not!!! Life, limb or eyesight only.