So I was counting the mega backdoor roth out for next year and was going to purchase some I-bonds with my extra cash to start converting my savings account emergency fund into an I-bond emergency fund (since I-bonds cant’ be redeemed for 12 months I was still going to have some “extra cash” to have access to some of the emergency fund before the year holding period is up). Now I am reading that the bill that would have killed the mega backdoor roth isn’t going to be signed in 2021 so that route is still good for 2022. Would it be better to burn down my extra cash doing the mega backdoor roth instead of the I-bonds? Technically the Roth can be an emergency fund too (at least the contributions). I could maybe do both and at least put $10k into the I-bonds this year and see what happens in 2022? (My emergency fund aim is $30K which is all in savings accounts earning pretty much nothing (or negative due to inflation right now)). Jobs are currently stable but with three kids and covid school shutdowns still a possibility I do get comfort from having easily accessible cash if shit hits the fan as far as being able to work.
We do max both 401Ks, both Roth IRAs, an HSA, and a dependent care FSA already. No taxable account as we moved to mega backdoor with our extra cash last year before kid #3 came along and took the extra monthly cash for daycare, haha.
What would you do?
