lol no it isn't. I could open a Roth IRA today, contribute to it, and then

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Feb 21, 2018
10:30:07am

RdF3 All-American

withdraw the contribution tomorrow and have 0 penalty. I don't know why you guys keep spreading this false information.

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RdF3

Previous username: swishh_15
Bio page: RdF3
Joined: Nov 4, 2011
Last login: Apr 26, 2024
Total posts: 39,911 (2,654 FO)

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Messages

Author

Time

Savings vs money market accounts for rainy day fund.

diluigifan

2/21/18 8:52am

Following to learn as well.

ChiCityCoug

2/21/18 8:55am

We use Marcus.com Cit bank has competitive "high yield" savings rates as well

BlueFamily

2/21/18 9:01am

A couple ideas:

TheLoneCougar

2/21/18 9:02am

Interesting. I had never thought of using my ROTH for an emergency fund. I

diluigifan

2/21/18 9:09am

There is a lot of counter-culture investing, retirement, and

TheLoneCougar

2/21/18 9:48am

Another alternative strategy for the rainy day fund

Biyamiti

2/21/18 9:49am

can use Roth contributions/earninings if an extablished Roth for 5 years

TPcoug

2/21/18 9:13am

Deleted. Above post was edited.

RdF3

2/21/18 9:30am

How is it not true?

TPcoug

2/21/18 9:47am

Because it isn't true.

RdF3

2/21/18 10:02am

It is true in one instance

Sweatybluefeet

2/21/18 10:22am

And he's also right about the account

Sweatybluefeet

2/21/18 10:24am

lol no it isn't. I could open a Roth IRA today, contribute to it, and then

RdF3

2/21/18 10:30am

<< Deleted >>

Sweatybluefeet

2/21/18 10:31am

The article states exactly what I'm saying. You are not reading it correctly.

RdF3

2/21/18 10:32am

Sweatybluefeet

2/21/18 10:35am

They're referring to the 5 year clock on earnings withdrawals there.

RdF3

2/21/18 10:38am

You're right. Thanks for the clarification.

Sweatybluefeet

2/21/18 10:46am

<< Deleted >>

Sweatybluefeet

2/21/18 10:33am

Then I would consider thinking twice about investing with vanguard

RdF3

2/21/18 10:36am

Yep it's on earnings. I misunderstood.

Sweatybluefeet

2/21/18 10:45am

Yes, there's a 5 rule on conversions. That's an entirely different topic than

RdF3

2/21/18 10:24am

I understand

Sweatybluefeet

2/21/18 10:36am

simple mis-representation of the facts.

TPcoug

2/21/18 10:47am

<< Deleted >>

TheLoneCougar

2/21/18 9:45am

here is something to consider:

molodyets

2/21/18 9:36am

I subscribe to this theory as well

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