Financial advisor Travis Gatzemeier of Kinetix Financial Planning says that, once spending has been cut to the bone, you can consider taking money from a Roth IRA if you have one.
“A Roth IRA can be used as a second layer emergency fund since contributions can be distributed tax and penalty-free,” he says.
“It's not ideal to distribute money from an account earmarked for your future, but it might be a better option than taking on high interest loans or credit card debt.”
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