Having an emergency fund is non-negotiable for freelancers. Even with the most meticulous tax planning and retirement strategies in place, unpredictable expenses can occur at any time.

In this episode, Alex dives into the most overlooked benefit of having a Roth retirement account and three things freelancers should know about using Roth accounts.

In this episode, you'll also hear:

• Common misconceptions about Roth IRA withdrawals
• Understanding which documents to keep for tax purposes
• How a Roth account provides income flexibility year over year

Must-listen moments:

[00:00:50] The world and your business can be unpredictable. As such, sooner or later, you will need to pull some money out of one of your accounts.

[00:02:30] For the amount you initially contributed to the account, you can pull these funds out at any time without being subject to penalty or tax on the withdrawal.

[00:05:25] As a freelancer…this is an incredibly valuable planning tool. As a freelancer, you can selectively choose which accounts you want to pull funds from and how much tax you want to pay that year based on which account you pull from.

Snag all our free, helpful personal finance content, curated just for freelancers at www.freelancefinancefix.com

Follow Alex at https://www.linkedin.com/in/alexmlynch/