I hate that I'm responsible...

[Captain Morgan]

Originally Posted by fatburg

Don't forget to take out the 20% penalty and taxes...that makes your 14 about 7...suck.

I've done the math several times, I can cash one of my retirement accounts out and pay off everything but my house. Of course if I hold on a little longer, I can open my gym and borrow against my retirement penalty free.

Originally Posted by Ebbs15

for me yes... but if his "emergency fund" and retirement are not in 401K's then he doesn't have that penalty...

Well, only 5 is in a 401K, the rest is in a Roth IRA, so I'd be looking at more like 11 or 12 if I had to take it out.

I HOPE to never dip into the e-fund, so I put it in a Roth account to let it build up tax free. If I ever have to pull from it, I can do so without penalty, as long as I only take out my contributions. If I were to get into the earnings portion, then i'd have the penalty and taxes, but since I have other investments in there besides the cash portion for the e-fund, I don't see any reason why I'd get into earnings. That and the fact the market has taken a huge hit, so I really have no "earnings" to speak of right now.