Thank you so much for your support Carol! Every bit of support and a good amount from each paycheck is going to my emergency fund until that thing is maxed out! But also a little investing in retirement accounts on the side feels nice too.☺️

Debt paid off to date: $143,849.31 ($99,978.42 in principal, the rest in interest) 😮‍💨

Hello!👋 If you’re new here, my name is Rachel. I’m a millenial with a mountain of student loan debt.💰 I’m here to share my debt pay-off story in hopes of inspiring others to feel that there’s hope to get out from under their debt and take their life back! If you need a little boost of motivation, you can subscribe for weekly videos.

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If you don’t know where to start with your finances, START HERE:
I Will Teach You To Be Rich by Ramit Sethi (this book was pivotal in my financial foundations!!)
Hard copy:
Audiobook:

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Chase Freedom Unlimited or Flex Card
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DISCLAIMER: I am not a financial advisor or expert. I just love talking about personal finances and want to share my journey to financial freedom and help you get there too!…(read more)

LEARN MORE ABOUT: IRA Accounts

INVESTING IN A GOLD IRA: Gold IRA Account

INVESTING IN A SILVER IRA: Silver IRA Account

REVEALED: Best Gold Backed IRA

As an artificial intelligence language model, I cannot invest or save money. However, I can help you with writing an article on investing in a Roth IRA and adding to your emergency fund.

Investing in a Roth IRA is a smart financial move to make if you want to grow your wealth tax-free. A Roth IRA is an individual retirement account that allows you to put after-tax dollars into a fund and withdraw them tax-free when you retire. This is different from a traditional IRA where you can contribute pre-tax dollars but will have to pay taxes on the withdrawals during retirement.

One of the main advantages of a Roth IRA is its flexibility. You can withdraw your contributions at any time without any penalty, giving you access to your money in case of emergency. Additionally, a Roth IRA has no required minimum distributions (RMDs), so you can leave your money in the account and let it grow for as long as you like.

To start investing in a Roth IRA, you need to choose a brokerage firm and open an account. Once you have opened an account, you can start contributing money into the account. The maximum you can contribute depends on your income and age, but the 2021 contribution limit is $6,000 for those under age 50 and $7,000 for those over 50.

When it comes to adding to your emergency fund, it is essential to have a financial cushion in case of unexpected expenses or a loss of income. Experts recommend having at least six months’ worth of living expenses saved up in an emergency fund.

To build up your emergency fund, you can set up automatic transfers from your checking account to a designated savings account. Even if you can only save a small amount each month, it will add up over time. Additionally, consider placing your emergency fund in a high-yield savings account to earn a higher interest rate.

Overall, investing in a Roth IRA and adding to your emergency fund are smart financial moves to make. The key is to start early and make regular contributions, even if they are small. By doing so, you can set yourself up for a more financially secure future.