Tag Archive: Roth IRA

ROTH IRAs: The Best Emergency Fund

One pillar of the Financial Independence mindset is the Emergency Fund. I agree with the principal of having an Emergency Fund, but I have a special way of creating an Emergency Fund within my financial plan. I came up with my process for an Emergency Fund by trying to maintain the benefits while removing the drawbacks of a typical Emergency Fund. Before we get into my Emergency Fund method let’s review the basics of an Emergency Fund. DEFINITION An Emergency Fund is an account for funds set aside in case of the event of an unexpected significant financial need, such as the loss of a job, a chronic and/or debilitating illness or a major repair to your home or vehicle. The purpose of the fund…
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