I need to buy a new roof. The estimated cost for fixing it is $15,000.

I have four retirement accounts that I could take the money from to pay for it:

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1. A Roth IRA with $16,000.

2. A money-market account with $16,000.

3. A traditional IRA with $460,000.

4. A 401(k) with $43,000.

I’m 61 years old, single and still have a job.

Which account would you pull the money from?

Fixer Upper

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It’s officially a rainy day, even if your roof isn’t leaking (yet).

Your money-market account, a combination of a high-yield savings account and checking account, is there for financial emergencies like this. Withdrawals from money-market accounts don’t typically incur penalties, even if any interest earned may be taxable. It’s liquid cash and allows you to keep retirement accounts untouched.

Not only would you lose the returns on your investments if you took money from your traditional retirement accounts, but you would also have to pay tax on the money you withdraw, so you’d be taking more than $15,000 in order to pay for that aging roof. (You wouldn’t pay tax on your Roth IRA withdrawals, but you’d still lose all that compounding.)

Another challenge if you dip into your $460,000 traditional IRA: As you would have to pay tax, you could also push yourself into a higher tax bracket, meaning that those roof repairs would get even more expensive. The money-market withdrawal is the simplest way to fix this problem; you can start replenishing your emergency fund as soon as it’s done.

Bottom line: Using the money-market account is the cleanest and most financially efficient way to fund your $15,000 roof repair. It avoids penalties and unnecessary taxes, preserves the capital in your retirement accounts — especially your Roth’s tax-free growth—and uses the money-market funds for their intended purpose.

Taking a step back, your portfolio is heavily concentrated in tax-deferred accounts, with nearly 95% in your traditional IRA and 401(k). While this is perfectly fine for someone your age, assuming you have a high risk tolerance to any market volatility, you could face significant taxable income when you have to start taking withdrawals.

Your Roth holdings, in contrast, make up 3% of your portfolio. You are restricting your tax-free growth. Looking ahead, you may want to consider contributing more to your Roth accounts, if possible, and/or mulling Roth conversions. Granted, your relatively small emergency fund post-roof repair leaves you with little room for other immediate unexpected events.

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You have time to think about your tax and conversion strategy before retiring. Under the Secure Act 2.0, your first RMD will be at age 75. These apply to traditional IRAs and 401(k)s and do not apply to your Roth IRA, which was funded with after-tax dollars. At 75, your RMD is that age divided by 24.6, equating to 4.07% of your tax-deferred balance.

Most of your wealth is in retirement accounts, which means that distributions will be taxed as they are withdrawn. Increasing your amount of fixed-income investments — your stock and bond allocation —will create a “smoother ride” over time. You have mastered the “accumulation” part of your retirement plan, and now it’s time to plan your “distribution.”

There are, to be fair, several missing pieces to the puzzle, including your mortgage responsibility (if you have one) and interest rate, any other debts, your income and projected expenses in retirement. You also have another big decision waiting for you on your next birthday: Whether or not to take Social Security or wait.

Your Social Security benefit is based on your 35 highest-earning years. For 2026, the maximum a person can earn in the year is $184,500. Social Security taxes will not be withheld above this limit. The maximum possible monthly Social Security benefit for 2025 is $5,251, for someone who waits until age 70 to claim.

You’re in relatively good shape, if you continue working: When the time comes, you could also work part time to keep you busy and help you ease into retirement by providing you with some structure; you’ll be able to maintain your connections with your co-workers; and you’ll enjoy a sense of purpose while you figure out what to do with the rest of your life.

Based on your other income, your Social Security benefits will be taxable. If you take this part-time job or you have drawdowns from your retirement income, you may wish to consult a tax adviser. And if you delay claiming until age 70, your additional monthly benefit along with any other income might push you into a higher tax bracket.

In the meantime, good luck (and good job) fixing that roof.

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