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Reply to "I am poor but want to fund my Roth IRA but am worried about the economy"
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[quote=Anonymous][quote=Anonymous]Do you have 6 months of savings in case of job loss? Then absolutely yes. And you can withdraw principal from Roth, if you need it. I think you're asking is the stock market going to crash to zero? You know the answer is no. Put it into your own account, not kid who won't be retiring for 50 years.[/quote] Yes I do have the savings for 6 months and I have other income if I lose my job which will cover rent, so it’s easier to survive. Unemployment should cover the groceries and then some. Rent payment help should also be available if push comes to shove so I’m not worried about being homeless and starved. Yes I was worried the stock market would crash and not recover for years if not a decade, but you’re right, it does sound implausible. Thank you! [/quote]
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