Tell All Tuesday - Emergency Fund Rising | I've Paid For This Twice Already... http://www.paidtwice.com/2008/02/12/tell-all-tuesday-emergency-fund-rising/#comment-16240 KD Wed, 13 Feb 2008 01:44:45 +0000 http://www.paidtwice.com/2008/02/12/tell-all-tuesday-emergency-fund-rising/#comment-16240 You're doing great! Your CC debt is gone. That's the big bad wolf. Are you planning on changing strategies a bit? Increasing your emergency fund? Or are you going to get aggressive with the student loans? One interesting thing I learned about e-funds recently is the possibility of using your IRA as an e-fund. You can invest the money in an money market fund (basically a savings account), and use it for emergencies if they happen, or let use it as retirement savings if you don't. Here are some links: http://www.mymoneyblog.com/archives/2007/10/roth-ira-contribution-vs-emergency-fund-savings.html http://www.mymoneyblog.com/archives/2007/10/can-i-really-withdraw-my-roth-ira-contributions-at-any-time-without-tax-or-penalty.html You’re doing great! Your CC debt is gone. That’s the big bad wolf. Are you planning on changing strategies a bit? Increasing your emergency fund? Or are you going to get aggressive with the student loans?

One interesting thing I learned about e-funds recently is the possibility of using your IRA as an e-fund. You can invest the money in an money market fund (basically a savings account), and use it for emergencies if they happen, or let use it as retirement savings if you don’t. Here are some links:

http://www.mymoneyblog.com/archives/2007/10/roth-ira-contribution-vs-emergency-fund-savings.html
http://www.mymoneyblog.com/archives/2007/10/can-i-really-withdraw-my-roth-ira-contributions-at-any-time-without-tax-or-penalty.html

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