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This has been rattling around in the back of my mind (lots of empty space in there!) as another reason to convert an existing IRA to a Roth:

Presumably, the entire converted amount would be classified as a contribution. And once the five-year time limit has passed, one would be able to withdraw any contributions without penalty.

So, why not use a Roth as a different type of savings account? Need money for a vacation? A car down payment? An unexpected emergency? The money would be there for you if needed. And if you never needed to tap the account, so much the better.

Assuming one had his/her retirement already well-provided for through other accounts (401k, other IRAs), would there be a problem with doing what I described?

Orangeblood
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