[USER]

I need to buy a car. I have an inherited IRA that I was planning to liquidate to pay for the new car (would still leave money in the IRA).

With the markets being down, does it make more sense to use cash from our emergency fund to pay for the car or to still take from IRA?

I think paying from emergency fund and then when markets are up sell to replace emergency fund.

(Buying the car doesn’t impact our FIRE journey at all.).

Or is it basically the same thing and doesn’t matter where I take the money from.

The money is sitting in a HYSA.

Thanks.

My spouse and I disagree but I’m not sure how to articulate my position.

[Alicia]

Wait til January if you can… take the RMD for this year, and then take Januarys, combine them to pay for the car.

Or finance knowing you can make another substantial payment on it when 2025 comes around.

[Alicia]

Wait til January if you can… take the RMD for this year, and then take Januarys, combine them to pay for the car.

Or finance knowing you can make another substantial payment on it when 2025 comes around.

[Tara]

What markets are down? We were up over 1 1/2% today and are near all time highs.

[Scott]

The markets are down?!? Unless you didn’t know you needed a new car, it really doesn’t qualify as an emergency.

Since the markets are near record highs and you have to liquidate all of your Ira within the next 10 yrs anyway, I would sell some dogs with your winners and use your Ira money

[Neka]

All money have a purpose. If you had no use or no purpose for the IRA then create a purpose and use it for just that.

I don’t think the market has bearing on this decision

[Mark]

What the market is doing should have zero bearing on ur decision

[Author]

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