Tip of the Month: Emergency Funds

Posted: February 13, 2025

 

Your emergency fund should be kept in a secure, but accessible account (like a savings account). Your retirement plan account should not be used for emergency fund purposes since distributions may be restricted. In addition, a pre-retirement distribution (before age 59.5) results in a 10% penalty, and your distribution may impact your tax liability for the year. 


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  • Tip of the Month: Emergency Funds

    Your emergency fund should be kept in a secure, but accessible account (like a savings account). Your retirement plan account should not be used for emergency fund purposes since distributions may be … read more

 

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