 Quote:
|
Originally Posted by Nords
Under that circumstance it beats the heck outta using credit cards
|
I dunno about that. to me, it would depend on the interest rate of the CCs, plus, the knowledge that, once that Roth money is gone, it's gone. I think I'd rather charge something on a CC, even @ an 18% interest, as long as I had a reasonable expectation to pay it back within, say, a year, than suck the money out of my Roth & have it be foverer gone.
I personally would never use my Roth as an EF. Somebody correct me if I'm wrong, but my current understanding is that if someone declares bankruptcy, the Roth would be protected, whereas CC debt could be gotten rid of, or reduced. I am not at all for bankruptcy, but if I had, say, crushing medical debts, I'd rather put them on the CC, & then have the chance to renegociate payments w/the hospital/collections agency, than raid my Roth to pay it off & have so much less money for tomorrow.
|