Quote:
Originally Posted by lewdog
Have you ever actually tapped your Roth? I worry it's not as seamless as it seems. Then again, even if it takes 2 weeks, you could always charge it and pay it off in full once the money arrives I suppose.
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Actually, I had to take money out of both IRAs (wife and mine) last month because we can't contribute the maximum $5500 to both IRAs anymore or we'll get penalized. So I Sold off the some stagnant investments out of both of them and transferred the money to my bank account the next day. No penalty had to come out and it was rather painless. Entire process took 2 days as the money was in my bank account the next business day after the transfer.
It's as simple as that. It literally is a savings account.