Correct if I am wrong, but isn't there a "penalty" in the sense of capital gains

Jul 1, 2020
10:18:56pm

IceCreamButt Truly Addicted User

Tax and penalty if withdrawn within a year of deposit? So this wouldn't make this money the most readily available right?

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IceCreamButt

Bio page: IceCreamButt
Joined: Oct 24, 2014
Last login: May 3, 2024
Total posts: 29,098 (4,934 FO)

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Messages

Author

Time

Question for all you rich cougarboarders. My company provides a 401K match that

PGCoug7

7/1/20 10:12pm

Brokerage account

NanoFab Coug

7/1/20 10:14pm

I’ve made 8.44% return over the last year in my brokerage account.

brazilcoug

7/1/20 10:15pm

Correct if I am wrong, but isn't there a "penalty" in the sense of capital gains

IceCreamButt

7/1/20 10:18pm

Only on the gains

NanoFab Coug

7/1/20 10:26pm

And if you donate in-kind, you don't pay it on the gains either.

supertux

7/2/20 6:19am

Also there’s no penalty for withdrawing from a brokerage account

NanoFab Coug

7/1/20 10:28pm

This is what I do

JOPE

7/1/20 10:52pm

And I can pull these funds in an emergency no problem?

PGCoug7

7/2/20 6:49am

It will take a couple days to sell your position and get the money back

NanoFab Coug

7/2/20 8:12am

Money market? Check your credit union’s MM rate.

kansascougar

7/1/20 10:14pm

High deductible HSA

Slim

7/1/20 10:20pm

This. Max out your HSA.

ebv

7/1/20 10:37pm

Don’t put anything in the market that you could potentially need for emergency

FinanceCoug

7/2/20 5:21am

Online savings accounts are better than nothing. Currently around 1.2%

LaserCoug

7/2/20 6:38am

Do a whole life or index universal life policy on yourself

Jersey hunter

7/2/20 9:03am

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