Have you set up a "Freedom Fund" yet?  If not, be sure to set one up soon!  Read this article to learn what a freedom fund is, what it is used for, how it should be invested, and how to set one up. 

What is a "freedom fund?"

A "freedom fund" is an investment account that is liquid.  In other words, you can get your hands on the money whenever you need it. 

A freedom fund is NOT an IRA, Roth IRA, 529 plan, or 401(k).  If you want money out of any of those accounts before a certain age or use the money for the wrong purpose, you're slapped with stiff taxes and penalties. 

Sadly, many people get caught up in the allure of the different tax advantages of the various retirement and college accounts available and never even consider setting up a simple liquid investment account. 

In short, a freedom fund is a taxable investment account that can be used for anything at any time. 

(Click "next" to continue or use the article index above to skip from one section to another)