<prompt> Human: My car has 191k miles and, though its usable now, Im worried that I will need to replace it someday soon if it breaks down. I just recently paid off all my debt but I have zero savings other than 1k in a checking account. I live frugally and am fortunate in that I am able to stash away about 1,200 month at this point in my life. I have a traditional 401k at my job, the company contributes 5 of my income and I decided throw another 4 of my pre-tax at it no matching. Anyway my question is NOT about retirement, but about saving for an emergency fund which will probably be used to pay for a newer car within the next two years. Initially I thought I would just put all of my savings into a 1 savings account Ally Bank. Ive done a little research and I can see no reason not to save up for that newer car in a Roth IRA instead. I would only be able to withdraw my principle I know and my principle may actually decline, but Im fine with that. Im posting this because I need to know how long it takes to withdraw early from my Roth IRA number of days before its in my checking and also to ask personalfinance if I am making a massive blunder that I dont know about. Of course if the old VW keeps on running, I can always keep driving it and have that 5,500year as retirement money!!!  <response>: Your emergency fund shouldnt be invested. And even if you did decide to invest it, why would you use a Roth IRA? Savings accounts have a low interest rate because theyre safe. When you need the money for the car, you could have gained 10 or lost 10. Your logic makes no sense. Its not like an IRA is an account with a higher interest rate. Its just an investment account with specific withdraw rules and tax benefits. 