It’s important to take the time to list your assets because the exercise can help you see just where you might be able to find extra money should you lose or quit your job.

Where would you get the money to sustain your household during a time of unemployment?

That’s what one reader, Carol, wanted to know. She wrote: “I am 45 years old and between jobs. I need some money for a few months. There are two places I have money, two CDs and the other a Roth IRA. Which would be the best place to withdraw the money first?”

I asked Ernest Burley Jr., a Maryland-based certified financial planner, to help answer Carol’s question.

It may seem obvious, but Burley said to first use money you have in any regular savings, money market or checking account. If you have a cash emergency fund, this is the time to tap that asset.

There are no penalties or consequences for using your cash, although you might end up with some banking charges if you have an account that requires you to keep a certain monthly minimum balance.

The next place to look for money would be any cash you’ve built up in a life insurance policy, Burley said. However, before withdrawing this money, carefully read your policy to check for any stipulations.

If you don’t have any cash savings or cash value life insurance, then it’s time to cash in any certificates of deposits.

Of course, if you close a CD before the maturity date, you’ll likely be accessed a penalty. The penalty depends on the institution and the length of the CD.

OK, so you don’t have any cash, CDs or cash-value life insurance. At this point you may be forced to tap into a home equity line of credit. You shouldn’t draw down on this money first because if you’re unemployed, you need to limit any new debts.

If there is no other source of money you can tap, then – and only then – should you consider withdrawing money from a Roth IRA, 401(k) or other similar tax-advantaged retirement account.

Let’s say you have money in a Roth IRA and a 401(k). Take the money out of the Roth first, Burley advises. Because Roth contributions are made with after-tax dollars, you can withdraw your original investment (principal) without a penalty.