Search found 22648 matches

by grabiner
Sun Dec 09, 2018 11:50 am
Forum: Investing - Theory, News & General
Topic: How to know what expected price is for index funds/ETFs?
Replies: 4
Views: 253

Re: How to know what expected price is for index funds/ETFs?

A mutual fund is necessarily valued at the net asset value. If a mutual fund owns $10B worth of stock, and has a billion shares, then each share is worth $10. If the stock rises in value from $10B to $11B, your share price will rise from $10 to $11. ETFs are traded on the stock market, but the creat...
by grabiner
Sun Dec 09, 2018 11:32 am
Forum: Investing - Theory, News & General
Topic: Tax ramification question
Replies: 11
Views: 938

Re: Tax ramification question

You’ll need to pay the taxes via estimated payments, withholdings (could be from a W2 job) or meet certain requirements (90% of tax withheld or 100/110% of last years tax bill withheld) or you’ll face a penalty. Right. One must understand the safe harbor rules when it comes to paying taxes. A quart...
by grabiner
Sun Dec 09, 2018 11:16 am
Forum: Investing - Help with Personal Investments
Topic: Best Re-balancing technique . . .
Replies: 20
Views: 1300

Re: Best Re-balancing technique . . .

I use a spreadsheet like yours. When I rebalance, I compare the actual amount to the target amount. I plan in two steps: Big picture: US/foreign/bonds. This is the most important part of my asset allocation. I want my total bond allocation to come out right, as that determines the risk level of my p...
by grabiner
Sun Dec 09, 2018 11:02 am
Forum: Investing - Help with Personal Investments
Topic: How to handle large, scheduled, lump sum investments / payments?
Replies: 11
Views: 966

Re: How to handle large, scheduled, lump sum investments / payments?

You don't actually need to deplete your emergency fund. If you have no spare cash in your brokerage account, you can contribute $6K from your bank account to your Roth IRA, but still consider that part of your emergency fund, leaving it in a money-market fund or short-term bond fund. In an emergency...
by grabiner
Sun Dec 09, 2018 10:57 am
Forum: Investing - Help with Personal Investments
Topic: Solid my entire portfolio 12/3/18
Replies: 49
Views: 8191

Re: Solid my entire portfolio 12/3/18

In preparation for moving to a simpler "lazy portfolio" style of investing I sold everything in my retirement portfolio on 12/3/18. So I am now 100% cash. Got a little lucky on the timing, but now I need to figure out when to get back in. Since you are restructuring your portfolio, you should move ...
by grabiner
Sun Dec 09, 2018 10:49 am
Forum: Investing - Help with Personal Investments
Topic: Any reason to keep this Annuity?
Replies: 4
Views: 275

Re: Any reason to keep this Annuity?

Or, if you want to simplify your life, you could just surrender the whole thing right now. It will cost you an additional roughly $3,000 in taxes ($30,000 gain on the annuity times 10% penalty rate), but it will simplify your life. I don't know your tax rate, but assuming 22% plus 10% penalty, this...
by grabiner
Sat Dec 08, 2018 5:15 pm
Forum: Local Chapters and Bogleheads Community
Topic: Master Thread for Baltimore/Southern PA Bogleheads
Replies: 58
Views: 16875

Re: Master Thread for Baltimore/Southern PA Bogleheads

The next meeting is planned for January 13, 2019. We haven't made an official announcement of the time and location, but if you join the mailing list (email BaltimoreBogleheads@gmail.com, the chapter coordinator), you can get the announcement on that mailing list, and RSVP so that we know how large ...
by grabiner
Fri Dec 07, 2018 10:46 pm
Forum: Personal Finance (Not Investing)
Topic: HSA and dental insurance
Replies: 3
Views: 351

Re: HSA and dental insurance

The dental insurance is likely to be a good deal, but check the terms for pre-existing conditions, and choose a plan for which your dentist is in-network. You can also open a Limited-Expense Flexible Spending Account, which is usable only for dental and vision; this allows you to get even more pre-t...
by grabiner
Fri Dec 07, 2018 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: When to consider making extra principal payments on mortgage?
Replies: 24
Views: 2147

Re: When to consider making extra principal payments on mortgage?

What is the interest rate on the mortgage? Sorry, I forgot to mention this very important part. Interest rate is sub-4%. So not much of a guaranteed return. That's still a decent guaranteed return if you don't itemize deductions. Paying down a 4% mortgage gives you a risk-free return of 4%. If you ...
by grabiner
Fri Dec 07, 2018 10:25 pm
Forum: Investing - Help with Personal Investments
Topic: Difference Between SEC 30 Day Yield and Distribution Yield TTM
Replies: 2
Views: 312

Re: Difference Between SEC 30 Day Yield and Distribution Yield TTM

The SEC yield is the estimate of future returns, so it is the number you want to use. Suppose that a mutual fund bought a bond for $1000 with a $20 annual coupon. One year before maturity, the bond is worth $990. If it holds the bond to maturity, it will have $1020 in one year, which is a 3.03% retu...
by grabiner
Fri Dec 07, 2018 10:19 pm
Forum: Investing - Help with Personal Investments
Topic: Unemployed, questions about personal investing situation.
Replies: 13
Views: 1339

Re: Unemployed, questions about personal investing situation.

I do not like VNQ and VXUS in taxable as they are pretty tax inefficient. This is the first I've heard of VXUS as tax inefficient? Compared to??? I think he means VXUS/VNQ has a higher dividend yield compared to VTI. Viewing retirement and non-retirement account allocations collectively, it is bett...
by grabiner
Fri Dec 07, 2018 10:15 pm
Forum: Investing - Help with Personal Investments
Topic: Help! [Concerned about Vanguard Long-term NY State bond fund]
Replies: 8
Views: 434

Re: Help! [Concerned about Vanguard Long-term NY State bond fund]

Question, how can a fund like this have a positive Total Return in a rate increase cycle? When the price on a bond falls, the yield on that bond rises. However, the rates which the Fed sets are short-term rates; you are investing in long-term bonds, and bond traders trade those bonds at prices whic...
by grabiner
Fri Dec 07, 2018 10:08 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvest - When and What You Buy
Replies: 5
Views: 708

Re: Tax Loss Harvest - When and What You Buy

If you want to get out of XYZ, you should sell at both brokers. If you sell the older shares first, you will have a wash sale, but it won't cost you anything. The loss is disallowed, but it is added to the basis of the replacement shares. Thus, when you sell the newer shares, you get back the disall...
by grabiner
Fri Dec 07, 2018 10:00 pm
Forum: Investing - Help with Personal Investments
Topic: Young and Dumb--wanting to start investing
Replies: 14
Views: 1327

Re: Young and Dumb--wanting to start investing

And even if it is smart to enter now with this impending bear market, as I don't want to put in $6k and experience an immediate loss (but maybe I'm missing something and that's not the case). I don't know which way the market will go. However, you can minimize your regret from getting in at the wro...
by grabiner
Fri Dec 07, 2018 9:51 pm
Forum: Investing - Help with Personal Investments
Topic: Car Fund [Where to park cash?]
Replies: 14
Views: 1458

Re: Car Fund [Where to park cash?]

You do not want to hold a bond fund for significantly less than its duration. Thus, Intermdiate-Term Tax-Exempt is a reasonable place to put money you won't need for five years, but you'll want to switch to Limited-Term when the anticipated expense is three years out. (It isn't a disaster if your ca...
by grabiner
Fri Dec 07, 2018 9:36 pm
Forum: Investing - Help with Personal Investments
Topic: Harvesting a capital loss and what to do next?
Replies: 8
Views: 598

Re: Harvesting a capital gains loss and what to do next?

The fund is Northern Funds Bond Index (NOBOX). The only family of low-cost index funds we can invert in is Northern Funds. Is there a similar fund to NOBOX in their portfolio? If you have a million dollars in a bond fund, you are presumably in a high tax bracket. Therefore, unless the municipal-bon...
by grabiner
Fri Dec 07, 2018 9:33 pm
Forum: Investing - Help with Personal Investments
Topic: What to put in brokerage account?
Replies: 5
Views: 578

Re: What to put in brokerage account?

I am trying to figure what to put in my taxable brokerage account after I have maxed out my 401k, Both Roths, and HSA. Do I put ETFs or index funds in it? I know with ETFs/Stocks you are only taxed on gains when you sale, not yearly, is that the same for mutual funds? Your understanding of the tax ...
by grabiner
Fri Dec 07, 2018 9:25 pm
Forum: Investing - Help with Personal Investments
Topic: Quick Wash Sale Question
Replies: 6
Views: 370

Re: Quick Wash Sale Question

I am not a lawyer and I don't work for the IRS or the US Government. You would have a partial wash sale, but you are miscalculating the dollar amount of the loss that would be disallowed. The $1200 probably involves only about 18.??? shares of VTSAX and the loss on only those 18.??? shares would be...
by grabiner
Thu Dec 06, 2018 11:28 pm
Forum: Investing - Help with Personal Investments
Topic: To Invest or Not to Invest
Replies: 31
Views: 2286

Re: To Invest or Not to Invest

Other thoughts... you paid points to get the low rate... quit paying ahead on the mortgage. Or, if you are going to keep paying ahead on the mortgage... just pay it off now. Don't do both, IMO. Take advantage of the low rate you paid points to get and let it ride. Or, just pay it off, be done with ...
by grabiner
Thu Dec 06, 2018 11:26 pm
Forum: Investing - Help with Personal Investments
Topic: To Invest or Not to Invest
Replies: 31
Views: 2286

Re: To Invest or Not to Invest

In another post, you mentioned that you bought the house in 2013. This implies that your 15-year mortgage is now a 10-year mortgage. (At least this is what I assume; you couldn't have gotten a 2.5% rate on a 20-year mortgage is 2013, while 2.5% would be possible if you paid a lot of points. My own ...
by grabiner
Thu Dec 06, 2018 11:24 pm
Forum: Investing - Help with Personal Investments
Topic: Minimizing capital gains taxes when moving to low-cost funds?
Replies: 25
Views: 2868

Re: Minimizing capital gains taxes when moving to low-cost funds?

6. If you plan to make large charitable donations, make them from securities with large long-term capital gains, rather than cash. I would add: Consider the possibility of making a charitable contribution directly from an IRA (up to $100,000). This may achieve the best of both worlds: 1) a possible...
by grabiner
Thu Dec 06, 2018 11:17 pm
Forum: Investing - Help with Personal Investments
Topic: Am I calculating the marginal tax rate correctly here?
Replies: 5
Views: 779

Re: Am I calculating the marginal tax rate correctly here?

Sorry if this is a "detour" but I have a question about how to correctly calculate marginal rates as well. In particular, for the case where you will qualify for the American Opportunity Tax Credit (assume up to the full amount of credit ... 2500), it seems like having this is equivalent to lowerin...
by grabiner
Thu Dec 06, 2018 11:08 pm
Forum: Investing - Theory, News & General
Topic: A Case for Bonds in Taxable?
Replies: 27
Views: 4302

Re: A Case for Bonds in Taxable?

I have been reading this and similar threads to familiarize myself with the arguments pro and con for bonds in taxable accounts. I've also been reading about Total US vs Total International Stock funds in taxable accounts and wonder if international bonds (such as the Total International Bond Fund)...
by grabiner
Thu Dec 06, 2018 12:00 am
Forum: Investing - Theory, News & General
Topic: HSA employee contributions subject to FICA?
Replies: 42
Views: 2830

Re: HSA employee contributions subject to FICA?

Roth IRAs are a bit different for us - I fund them using our refundable credits. The EITC has a 21% phaseout rate, much higher than our tax bracket. Our state matches EITC at 30%, essentially another 6.3% in phaseout. So at the early contributions, our payback for HSA contributions is 21% + 6.3% + ...
by grabiner
Wed Dec 05, 2018 11:08 pm
Forum: Investing - Theory, News & General
Topic: Why buying homes with mortgages is good but buying stocks on margin is bad
Replies: 36
Views: 2869

Re: Why buying homes with mortgages is good but buying stocks on margin is bad

If you have enough cash to buy a home without a mortgage, it is usually better to do that than to buy with a mortgage. Look at this from the bank's point of view; if you take out a mortgage, the bank has to sell other investments to get the money to lend you, so it will only do this if it would rath...
by grabiner
Wed Dec 05, 2018 10:42 pm
Forum: Investing - Help with Personal Investments
Topic: Am I calculating the marginal tax rate correctly here?
Replies: 5
Views: 779

Re: Am I calculating the marginal tax rate correctly here?

Does your marginal tax rate include the entire Net Investment Income Tax? This starts at $200K. If you have $202K of non-investment income, then your marginal tax rate for the ACA surtax is 3.8% only on additional investment income, and 0.9% on other income such as salary which is not subject to the...
by grabiner
Wed Dec 05, 2018 10:33 pm
Forum: Investing - Help with Personal Investments
Topic: To Invest or Not to Invest
Replies: 31
Views: 2286

Re: To Invest or Not to Invest

1) 40 year old married with a 3 year old kid 2) Have around 640K in the Stock Market (401(K), ROTH, 529 etc.,) 3) 275K in Cash (Ally bank and others) @ 2.0 APY 4) Outstanding 15 year Mortgage remaining of 185K balance @ 2.5 % Question is should I pay off the mortgage or keep the mortgage and use th...
by grabiner
Wed Dec 05, 2018 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: Moved to new state for final month of 2018 - Roth conversion opportunity?
Replies: 5
Views: 374

Re: Moved to new state for final month of 2018 - Roth conversion opportunity?

The math doesn't quite work the same way you are expecting. If you are a NJ resident working in NY, you compute your NJ tax on all your income, then take a tax credit which is the lesser of the tax you paid to NY, or a prorated share of the NJ income. You won't pay any NJ tax on income already taxe...
by grabiner
Wed Dec 05, 2018 5:29 pm
Forum: Investing - Help with Personal Investments
Topic: Hypothetical Roth IRA question
Replies: 10
Views: 415

Re: Hypothetical Roth IRA question

Let's say I max out my ROTH IRA on January 1st. What happens if later that month(or the following month etc...) I get a new job that puts me over the contribution limit? Anything? This hypothetical could be realistic for me next month, so I want to make sure I approach this correctly Do a backdoor ...
by grabiner
Wed Dec 05, 2018 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: Moved to new state for final month of 2018 - Roth conversion opportunity?
Replies: 5
Views: 374

Re: Moved to new state for final month of 2018 - Roth conversion opportunity?

I lived in NJ from 2010-2013, and encountered the same part-year issue as you, because I moved to NJ in November 2010 and was in an unusually low state tax bracket that year. I also paid taxes on a conversion from an IRA which had been rolled from a 403(b); NJ doesn't allow deductions on 403(b) cont...
by grabiner
Wed Dec 05, 2018 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard thinks I have a wash sale. Do I?
Replies: 41
Views: 4280

Re: Vanguard thinks I have a wash sale. Do I?

Uh, what? That defies my understanding of replacement shares. To clarify, do you now hold any FTSE? If so, when was your last recorded purchase of shares you now still hold? To what shares was the adjustment in price made 1) I currently own a single lot of FTSE that I purchased 12/27/16 2) I just r...
by grabiner
Wed Dec 05, 2018 4:38 pm
Forum: Investing - Theory, News & General
Topic: Where do the losses in HY show up? [High Yield bonds]
Replies: 53
Views: 3631

Re: Where do the losses in HY show up? [High Yield bonds]

OK, with the pointer from Kevin M, I can look at the SEC yield at two points in time and look for that impact of falling interest rates David G has pointed out. If I that say 15 years, from the beginning of 2003 to the beginning of 2018, I find the NAV is essentially the same. But the SEC yield has...
by grabiner
Wed Dec 05, 2018 4:23 pm
Forum: Investing - Help with Personal Investments
Topic: Out of Stocks to Pay Off Mortgage
Replies: 73
Views: 4952

Re: Out of Stocks to Pay Off Mortgage

I'm going to use a mortgage calculator to show why the duration matters: I have a $100,000 mortgage for 10 years at 4%. If I pay it off tomorrow (versus paying for 10 years), I am out $100,000 but save $21,494.17 in interest. Let's now say I have 5 years left. I owe $44,840.29. I could pay it off, ...
by grabiner
Wed Dec 05, 2018 3:58 pm
Forum: Investing - Help with Personal Investments
Topic: Out of Stocks to Pay Off Mortgage
Replies: 73
Views: 4952

Re: Out of Stocks to Pay Off Mortgage

I think one other point worth noting is to understand, historically, how home values have fared versus stocks. As per Case and Shiller, in the US, housing has beaten inflation, on average by 1-2% over the last 80 years. The S+P, as we know has returned about 7% after inflation. Now, this is not an ...
by grabiner
Wed Dec 05, 2018 3:22 pm
Forum: Investing - Help with Personal Investments
Topic: Out of Stocks to Pay Off Mortgage
Replies: 73
Views: 4952

Re: Out of Stocks to Pay Off Mortgage

I'm going to use a mortgage calculator to show why the duration matters: I have a $100,000 mortgage for 10 years at 4%. If I pay it off tomorrow (versus paying for 10 years), I am out $100,000 but save $21,494.17 in interest. Let's now say I have 5 years left. I owe $44,840.29. I could pay it off, ...
by grabiner
Wed Dec 05, 2018 3:02 pm
Forum: Investing - Help with Personal Investments
Topic: Out of Stocks to Pay Off Mortgage
Replies: 73
Views: 4952

Re: Out of Stocks to Pay Off Mortgage

I think one other point worth noting is to understand, historically, how home values have fared versus stocks. As per Case and Shiller, in the US, housing has beaten inflation, on average by 1-2% over the last 80 years. The S+P, as we know has returned about 7% after inflation. Now, this is not an ...
by grabiner
Wed Dec 05, 2018 11:44 am
Forum: Investing - Help with Personal Investments
Topic: Changing asset allocation when saving for big expenses?
Replies: 10
Views: 971

Re: Changing asset allocation when saving for big expenses?

One thing is certain: buying bonds at 2.75% when you could be paying off a mortgage at 3.13% is like putting money in a savings account with a negative interest rate (-0.38%, in fact). Except that the mortgage interest is partly deductible. If it is a 3.75% mortgage which is half deductible, then h...
by grabiner
Wed Dec 05, 2018 11:06 am
Forum: Investing - Theory, News & General
Topic: Where do the losses in HY show up? [High Yield bonds]
Replies: 53
Views: 3631

Re: Where do the losses in HY show up?

Good question. Analyzing the 15-year's of returns (2003-2017 inclusive) broken out by capital return and income return provided by Vanguard here, https://investor.vanguard.com/mutual-funds/profile/performance/vweax/cumulative-returns, the cumulative 15-year capital return is 1.2% (0.1% annualized),...
by grabiner
Wed Dec 05, 2018 12:18 am
Forum: Personal Finance (Not Investing)
Topic: Reuqesting Help With Managing of Winnings
Replies: 37
Views: 3643

Re: Reuqesting Help With Managing of Winnings

One other question. I just had an accountant tell me that since I would be making such a large payment to the IRS now for 2018, that they may charge me interest because I did not make those payments through the course of the year. I obviously did not know I would need to make those payments until r...
by grabiner
Wed Dec 05, 2018 12:08 am
Forum: Investing - Help with Personal Investments
Topic: Minimizing capital gains taxes when moving to low-cost funds?
Replies: 25
Views: 2868

Re: Minimizing capital gains taxes when moving to low-cost funds?

4. If any security has a loss, consider selling and taking the tax-loss benefit. 5. If any security has a profit, consider selling up to the amount of your losses (after being held for one year to benefit from the lower capital gains tax rate). This pair of suggestions doesn't quite combine properl...
by grabiner
Tue Dec 04, 2018 10:58 pm
Forum: Investing - Help with Personal Investments
Topic: Out of Stocks to Pay Off Mortgage
Replies: 73
Views: 4952

Re: Out of Stocks to Pay Off Mortgage

Ask yourself this: If someone could guarantee you 4.625% return on your 200k while your home value (hopefully) continues to grow, would you do it? I'd pay off the mortgage and get that guaranteed 4.625% return. Just to be clear, the 4.625% return is a 1-time return. Every year thereafter the money ...
by grabiner
Tue Dec 04, 2018 10:51 pm
Forum: Investing - Help with Personal Investments
Topic: Minimizing capital gains taxes when moving to low-cost funds?
Replies: 25
Views: 2868

Re: Minimizing capital gains taxes when moving to low-cost funds?

4. If any security has a loss, consider selling and taking the tax-loss benefit. 5. If any security has a profit, consider selling up to the amount of your losses (after being held for one year to benefit from the lower capital gains tax rate). This pair of suggestions doesn't quite combine properl...
by grabiner
Tue Dec 04, 2018 10:46 pm
Forum: Investing - Help with Personal Investments
Topic: Changing asset allocation when saving for big expenses?
Replies: 10
Views: 971

Re: Changing asset allocation when saving for big expenses?

The concern was putting it back in the market at 67/33, watching the market crash, and then not being able to pay off the mortgage when I finally do decide to hang it up. One thing is certain: buying bonds at 2.75% when you could be paying off a mortgage at 3.13% is like putting money in a savings ...
by grabiner
Tue Dec 04, 2018 10:42 pm
Forum: Investing - Help with Personal Investments
Topic: One time transfer IRA to Fidelity HSA - Good? Bad?
Replies: 11
Views: 1148

Re: One time transfer IRA to Fidelity HSA - Good? Bad?

Can you fund the HSA using funds other than from your IRA? Not without spending down my available cash which I keep on hand for emergencies. You can do that, and move an equal amount in your IRA to a money-market fund as your emergency fund. If you have an emergency next year, you can take the mone...
by grabiner
Mon Dec 03, 2018 11:11 pm
Forum: Investing - Help with Personal Investments
Topic: Minimizing capital gains taxes when moving to low-cost funds?
Replies: 25
Views: 2868

Re: Minimizing capital gains taxes when moving to low-cost funds?

Fund ER Amount Unrealized cap gains SGENX 1.10 $216k $65k SGOVX 1.14 $90k $18k FKINX .61 $18k $3k HFCSX 1.50 $59k $11k Why wouldn’t you wait three years till you are in thrb0 LTCG bucket? You have to work out the costs. The expenses plus capital gains over the next three years will probably be more...
by grabiner
Mon Dec 03, 2018 10:51 pm
Forum: Investing - Help with Personal Investments
Topic: Changing asset allocation when saving for big expenses?
Replies: 10
Views: 971

Re: Changing asset allocation when saving for big expenses?

Or should I put any new money that I want to use to pay off both my house and children's education into some type of safer investment that I can fill up to prepare for the eventual payoff? The latter is what I decided to do. I've been investing new money into California municipal bonds, which in tu...
by grabiner
Mon Dec 03, 2018 10:46 pm
Forum: Investing - Help with Personal Investments
Topic: Convert from ETF to Mutual Fund?
Replies: 6
Views: 499

Re: Convert from ETF to Mutual Fund?

You will be taxed if you have earnings, you may have your tax reduced if you have a loss. If you have a capital loss, you won't be able to deduct it because of the wash sale rule; you are selling a fund and buying a substantially identical fund (in this case, a different share class of the same fun...
by grabiner
Mon Dec 03, 2018 10:42 pm
Forum: Investing - Help with Personal Investments
Topic: Does new Fidelity Individual HSA charge a monthly account fee?
Replies: 32
Views: 2715

Re: Does new Fidelity Individual HSA charge a monthly account fee?

The $48 fee is associated with employer provided HSA accounts, not individual HSA accounts. Ugh...is there a way to not use my employer HSA and use the free individual HSA instead? My fees are $7.50 a quarter. Losing $30 to fees every year is hard, especially when you don't have much money yet in t...
by grabiner
Mon Dec 03, 2018 10:37 pm
Forum: Investing - Help with Personal Investments
Topic: rebalanced to bonds and intl out of US equtiies
Replies: 8
Views: 695

Re: rebalanced to bonds and intl out of US equtiies

In the recent runup of US and rundown of bonds and international, i balanced a little into bonds and interntional from US, to meet my allocation goals. Wonder if this will be a good idea or not based on so many here at BH who are negative on bonds or intl. Whether it comes out ahead or not, it's a ...
by grabiner
Mon Dec 03, 2018 10:31 pm
Forum: Investing - Help with Personal Investments
Topic: One time transfer IRA to Fidelity HSA - Good? Bad?
Replies: 11
Views: 1148

Re: One time transfer IRA to Fidelity HSA - Good? Bad?

Can you fund the HSA using funds other than from your IRA? Not without spending down my available cash which I keep on hand for emergencies. You can do that, and move an equal amount in your IRA to a money-market fund as your emergency fund. If you have an emergency next year, you can take the mone...