In this video, I’ll go over the importance of an emergency fund and how to leverage your Roth IRA as an emergency fund.
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But if you leave it in the Roth without investing won't it have 0% yield? So wouldn't a high yield savings be better? I def like the idea of having part of emergency fund in Roth since you can withdraw it (minus gains) at anytime but idk if I'd want to do that without investing at least in a conservative option. Thanks for your take!
Great video Courtney! Every year a Roth contribution is missed is a lost opportunity. As you said, credit cards are not an emergency fund.
I thought you could withdraw Roth IRA contributions penalty/tax free. So why not invest the funds? Since you'd still be able to withdraw your original contributions
As pointed out by other viewers, it makes no sense to use a Roth as an emergency fund and not invest…
I don't understand. All things considered a money market and Roth IRA have same safety, liquidity and yield if you are not investing it, right? Why move it to a Roth IRA if you aren't going to take advantage of investing it to get gains?
That makes no sense to put money in Roth as emergency fund. You are penalized and taxed on the gains. If you’re using it as a place to store money, just use a money market.
Interesting. So it’s in the Roth but not invested in anything just sitting there? You could buy and trade with it later? But you met the deadlines?
Invest it in conservative bond funds
Never heard of the acronym SLY before but thanks for sharing this strategy!
I think we're going to do this, we have a spousal IRA that we aren't fully funding at this point. Giving more to HSA, 401(k) and my Roth IRA.
Thanks for sharing the Extra benefit of Roth IRA
I have thought of doing this but never saw anyone make a video on it! Thanks for sharing… also, I’ve watched a few of your videos and appreciate your perspective. Well done 🙂
Wow, that's a really interesting technique, and makes a ton of sense. Really smart concept, and great explanation!