Can a Roth IRA be an emergency fund?

March 28, 2014

I recently discussed the idea that a Roth IRA could double as an emergency fund for those qualified to contribute to one... this may not be right for everyone, and you may not be able to access all of your account penalty-free, but it is worthwhile for many to consider... 

 

“One under-utilized place to save for emergencies is a Roth IRA,” said Robert Schmansky of Clear Financial Advisors. While Roth IRAs are often accessible without penalties, that’s not always the case, so act with caution. On the flip side: “If you do not have an emergency, you set yourself up nicely for retirement with tax-free money.”

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Clear Financial Advisors-Best Detroit Advisors (WXYZ/ConsumerAffairs)

July 17, 2019

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Detroit, Ann Arbor, and online fee-only, fiduciary financial advisor blog / podcast on retirement, investments, economy, taxes, 401k, 403b, Roth, IRAs

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