TrixAre4Kids
Familiar Member
'Not all those who wander are lost' - J. R. R. Tolkien
Joined: Dec 22, 2010 22:33:15 GMT -5
Posts: 877
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Post by TrixAre4Kids on Apr 12, 2011 14:29:41 GMT -5
Ok, it's getting down to the wire here.
Should I transfer $6000 out of my EF to my 2010 Roth and stick it in a money market, or not? Alternative is Amex Hi Yield Savings at (drum-roll please) 1.15% interest.
Thoughts?
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Deleted
Joined: Apr 29, 2024 23:13:52 GMT -5
Posts: 0
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Post by Deleted on Apr 12, 2011 14:34:36 GMT -5
If the alternative is not contributing to your 2010 ROTH. I say DO IT!
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CarolinaKat
Junior Associate
Joined: Dec 21, 2010 16:10:37 GMT -5
Posts: 6,364
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Post by CarolinaKat on Apr 12, 2011 14:36:25 GMT -5
how healthy is your EF?
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TrixAre4Kids
Familiar Member
'Not all those who wander are lost' - J. R. R. Tolkien
Joined: Dec 22, 2010 22:33:15 GMT -5
Posts: 877
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Post by TrixAre4Kids on Apr 12, 2011 14:42:18 GMT -5
EF has about 3.5 months in it, if I pull every penny from all my stashes.
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azphx1972
Familiar Member
Joined: Mar 2, 2011 22:08:36 GMT -5
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Post by azphx1972 on Apr 12, 2011 14:42:21 GMT -5
I was going to say that if your ROTH IRA is at least 5 years old, go for it. But based on the fact that you can put in 6000, that means you're at least 50, so the benefits of doing a ROTH may be questionable. I agree it depends on the rest of your financial picture.
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Deleted
Joined: Apr 29, 2024 23:13:52 GMT -5
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Post by Deleted on Apr 12, 2011 14:46:05 GMT -5
If the alternative is not contributing to your 2010 ROTH. I say DO IT! I approve this message  |
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Deleted
Joined: Apr 29, 2024 23:13:52 GMT -5
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Post by Deleted on Apr 12, 2011 15:16:37 GMT -5
How much of the 3.5 months is the $6000?
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