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| Subject: Dipping into Retirement for emergency | Date: 6/28/2001 3:39 PM | |
| Author: headaix | Number: 30477 of 72253 | |
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Currently, I max my 457 contribution ($8500). I have no other savings vehicle at this time. I have plenty of debt which I am paying off. I have begun to have concern about my level of "emergency money". I'm speaking of real emergencies... medical, layoff, etc. Would it be Foolish to forego building up a sizable cash emergency fund and instead sock it all into the debt, while relying on the retirement as that emergency fund? I'm not too familiar with the regs re: this, although I know you can take early distributions for some allowed expenses (such as medical bills). <H> |
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