What happens when your emergency cash runs dry—and life keeps happening?

A recent article lays out a ranked list of ten ways to access emergency cash, starting with the best options and ending with the ones you’ll want to avoid unless it’s truly a last resort:

Emergency Fund / Short-Term Securities
Low-Risk Assets in Taxable Accounts
Roth IRA Contributions
Life Insurance Cash Values
401(k) Loan
Home Equity Line of Credit (HELOC)
Hardship Withdrawals from 401(k)
Reverse Mortgage
Margin Loans
Credit Cards

The takeaway?

Know your emergency funding hierarchy before a crisis hits. With a plan in place, you’ll be better equipped to make calm, informed decisions when life throws you a curveball.

Resource:

MorningStar article by Christine Benz: 10 Sources of Emergency Cash, Ranked From Best to Worst
Christine Benz’s book - How to Retire: 20 Lessons for a Happy, Successful, and Wealthy Retirement https://a.co/d/3rZ3JgF

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