Ron Swanson On Money

Ron Swanson On Money

Roth IRAs are good for saving money for retirement, but that isn’t the only thing they are good for. They can be used for down payment for a house, paying for college, an emergency fund, or saving money for your child as well.

The Simple Dollar’s Matt Becker has a good list of Four Ways to Use a Roth IRA That Have Nothing to Do With Retirement:

  • College Savings: “A┬áRoth IRA is a great way to save money tax-efficiently for college while maintaining the flexibility to use it for retirement if your goals or needs change.”
  • House Down Payment: “Your Roth IRA is also available tax-free for use as a down payment on a house, up to a point.”
  • Emergency Fund
  • Launchpad For Your Child

(Image via Quickmeme)