Sentences with phrase «doubling as an emergency fund»

I have heard of people starting one prior to having a full emergency fund in place — since a Roth could double as an emergency fund.

I think a savings account for a large purchase (and doubling as an emergency fund) is as good a use as any.

RRSPs can double as emergency funds if necessary: they're friendlier and more liquid than you may think: you can open one this week and collapse it the next if you really need the money.

If I were to gradually move the account to I - Bonds, similar to a CD Ladder, would that be able to double as an emergency fund (fixed dollar amount equal to 3 - 6 months living expenses) and long - term cash savings (10 - 20 % of non-retirement investments)?

If this is doubling as your emergency fund then no, keep it liquid.

Since you can also access the contributions any time and for any reason without tax or penalty, it could double as your emergency fund.

Even if you already have the Roth started, it doubles as an emergency fund, so putting money into it couldn't hurt.

Not exact matches

If you've been saving for retirement in a Traditional or Roth IRA, you may wonder whether those funds can double as emergency savings.

We've decided that once the new tax - free accounts become available (in 2009), we will start up an emergency fund which will also double as a savings account for our next car.

Find out what your bank requires and take that balance from your emergency fund and stick it in your chequing account where it can do double duty: It'll be there when crap hits the fan and, as long as you leave it alone, it'll help you to save on bank fees.