{ "media_type": "text", "post_content": "Hey Folks! I spent the last year and used my bonus to pay off all my credit cards and started an emergency fund. I’m currently about half way to having 6 months of net pay saved. Right now I have the fund evenly split between a “high-yield” (.5%) MM account and a TD brokerage account invested in a in a index fund. My question is would it make more sense to put that brokerage money into a Roth IRA since I could take that principal out in a emergency. Also already maxing out my 401k. Thanks!", "post_id": "61df22943b8dc9002b71e244", "reply_count": 4, "vote_count": 3, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter", "feed_type": "bowl" }

Hey Folks! I spent the last year and used my bonus to pay off all my credit cards and started an emergency fund. I’m currently about half way to having 6 months of net pay saved. Right now I have the fund evenly split between a “high-yield” (.5%) MM account and a TD brokerage account invested in a in a index fund. My question is would it make more sense to put that brokerage money into a Roth IRA since I could take that principal out in a emergency. Also already maxing out my 401k. Thanks!

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Congrats on your progress so far. Yes, if eligible for Roth IRA you should generally contribute to that before your brokerage account for the reasons you mentioned. Ideally you never need to touch it but contributing and maybe pulling some contributions later is better than not contributing.

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In my opinion, the purpose of an emergency fund is for it to be easily accessible in an emergency. I keep mine in a HYSA and do not put it in a Roth IRA or brokerage. I'd keep it all in a HYSA and invest separate money

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Hey OP, I keep my emergency savings in a HYSA and everything extra in IRA + brokerage acct.

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Also my MAGI puts me just below the cutoff for full Roth contribution so I’d be able to deposit a full $6k.

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