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Forum
-> Household Management
-> Finances
wife423
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 Tue, Jan 07 2025, 8:15 am
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Is there a benefit in investing your money in a Roth IRA VS high yield savings account or something else. DH feels we shouldn’t put too much in Roth IRA because we need the money for a down payment. If I can take out 10k when I need it for a house, is it better to invest the money in my Roth account or something else?
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amother
Khaki
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Tue, Jan 07 2025, 8:16 am
Roth IRA is an investment account for retirement. There’s a penalty if you withdraw the money before you’re a certain age, I think 59
You can invest with a regular account
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amother
Wheat
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Tue, Jan 07 2025, 8:17 am
| wife423 wrote: | | Is there a benefit in investing your money in a Roth IRA VS high yield savings account or something else. DH feels we shouldn’t put too much in Roth IRA because we need the money for a down payment. If I can take out 10k when I need it for a house, is it better to invest the money in my Roth account or something else? |
I just opened a post on this.
We've kept our $ in a HYSA but the rates keep dropping and we don't feel it's worth it anymore.
To my understanding you can withdraw your entire Roth contribution penalty free.
The 10k limit is only on earnings.
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