My post said that it shouldn’t be relied upon in retirement, not that it isn’t a retirement account. If you’re lucky enough to be able to have both a savings account and a Roth, then sure, it doesn’t make sense to use it for a car. But if you need to choose between those two due to low income, it’s absolutely valid to use your Roth as a standard savings account and withdraw for large purchases and emergencies when financing isn’t an option. This is also helpful for people who tend to dip into their savings frivolously and often recommended to low earners as a way to control their finances.
But yeah, if you’re in a conformable place financially then you should absolutely max out your Roth and not touch it. That simply isn’t a reality for most people.
My post said that it shouldn’t be relied upon in retirement, not that it isn’t a retirement account.
Bullshit. You wrote that:
It’s usually used to save for things like cars or a down payment for a house.
While yes, there’s an exception that allows you to use it for a house down payment (one time only, as a first-time buyer), it sure as Hell isn’t meant to be used for “things like cars!”
My post said that it shouldn’t be relied upon in retirement, not that it isn’t a retirement account. If you’re lucky enough to be able to have both a savings account and a Roth, then sure, it doesn’t make sense to use it for a car. But if you need to choose between those two due to low income, it’s absolutely valid to use your Roth as a standard savings account and withdraw for large purchases and emergencies when financing isn’t an option. This is also helpful for people who tend to dip into their savings frivolously and often recommended to low earners as a way to control their finances.
But yeah, if you’re in a conformable place financially then you should absolutely max out your Roth and not touch it. That simply isn’t a reality for most people.
Bullshit. You wrote that:
While yes, there’s an exception that allows you to use it for a house down payment (one time only, as a first-time buyer), it sure as Hell isn’t meant to be used for “things like cars!”