7 Responses

1. Future Millionaire

   February 18th, 2008 at 9:54 pm

   1

   My curiosity is peaked, what is your reasoning for building the non-retirement savings before the Roth IRA? With a Roth IRA you can always withdraw the initial investment with no penalty and the interest grows tax differed.

   Is there a better advantage to growing the non-retirement first?

2. NCN

   February 18th, 2008 at 11:01 pm

   2

   @Future Millionaire -
   I have already fully-funded my roth ira for 2008… and I will work on fully-funding my wife’s before the end of the year (hopefully before fall)…
   This savings is in ADDITION to our retirement savings… not in-place of…

3. NCN

   February 18th, 2008 at 11:03 pm

   3

   To further clarify -
   My wife will be out of work for a few months, once the baby is born, so her paychecks will decrease. As a stop-gap measure, I am building up non-retirement savings, so that we will have funds on hand, to supplement her decreased income. After the baby is born, she’ll go back to work, and we’ll then be able to fund her roth.

4. Ryan S.@uncommon-cents.net

   February 18th, 2008 at 11:41 pm

   4

   Wow, that’s an ambitious goal! I’m pulling hard for you; I wish I could save that much (in non-retirement savings) in a year!

5. Future Millionaire

   February 19th, 2008 at 7:22 am

   5

   Ah I see. I was just curious why not funding your wife’s Roth IRA first, but since its going to be funded by the end of the year anyway it really doest matter.

6. tracy ho

   February 19th, 2008 at 8:49 am

   6

   Planning in advance is a good thing,

   Good luck,

   Tracy Ho
   wisdomgettingloaded

7. Jesse

   February 21st, 2008 at 4:57 pm

   7

   Kudos to the comment above me for the “most obvious comment with a reference to their site below” award.

   Is that savings including an emergency fund? Or is that considered separate?