Are solar panels worth the investment? Hi everyone, Seeing that there is a federal interest free program and $5000 provincial grant for Solar, we inquired about solar energy. It’s about $30,000 paid interest free over 30 years. From the specs of my home, we would be able to generate about average 75% of our current wattage. From a rough calculation, if our electricity rates don’t …

Need help setting my mom up. My dad passed away a few days ago. I came home and my mom has no idea what she needs or what to do since my dad took care of everything. Looking though his accounts, I’ve found so far that the house is paid off, taxes have been paid this year, and he has a little over 700k in a IRA and 300K in his 401k. He was still working and I’ll be seeing wh…

Stuck in a Credit Card Cycle This month, my credit card bill was quite high ($420). With my salary of $579, plus the $140 in child support that I have to pay, I would be left with almost no money until next month. That would force me to rely on my credit card to cover my expenses, which could put me in the same situation again. I currently live with my parents, so I don’t h…

What happens to a brokerage account after I leave the US? So an unusual question. I’m in the US on a student visa (F1). I opened a bank account, a credit card, and a brokerage account. I plan to eventually leave the US. What happens to these accounts? I’m particularly concerned about the brokerage account. I live in a very unstable country without local brokerages, so I can’t just transfer the stocks t…

trying to become financially literate hi everyone- I’m freshly 20 and trying to figure out the best way to learn about finances/become more money-savvy. I’m currently in school, and have taken out student loans. I got my first credit card a week ago, and I’m hoping to lease an apartment soon.I have some savings but not very much. my parents have always had trouble with money and I …

Should I pay college debt or invest in a roth ira? If I’ll have 50k college debt by the time I finish college. And have 20k rn. Should I invest it in a roth ira over the years or use it for college debt? I’m not 100% sure what’s the correct answer so I want advice. submitted by /u/lonlysoul101

I currently have 20K in debt, and I don’t know how to proceed. How to I proceed with this? I am currently a student and unemployed, but actively looking for work. I currently have 20K in debt, and I don’t know how to proceed. Also, I haven’t talk to the collectors since I am afraid and ashamed. How to I proceed with this? submitted by /u/QuartzDiamond

Maxing Roth IRA, but then, 401(k) Roth or Traditional? Basically the title. I’m 31M, maxing out my Roth IRA. I have a 401k that’s currently set to 4% Roth contributions, but is that the best or should I switch it to traditional? Is there a way to figure out which combo is best? I feel some people say all Roth is the best, while others say a blend is better. submitted by /u/tcwmatt …

will i destroy my credit score if i do this i’m 28, single, living independently ever since i graduated college 5 years ago. i’ve never been super rich but i always had enough, until the last six months or so. i moved across the country and basically all my savings are now gone. my new area is HCOL and im just not keeping up on a teachers salary. i am living paycheck to paycheck and nearl…

Credit Card Utilization Hello, I just opened two credit cards for the first time to build up my credit. So I’m treating it like a debit card and will auto pay everything off each month. My question is regarding utilization rate. Let’s say my credit limit for the two cards are $1000 each. I’ve read that having a utilization rate above 30 percent is bad. So that means I …

Rental Property or Paid Off Home? All things being equal, would you rather have a low maintenance rental property worth $450K generating $12K per year or sell it to have fully paid off main home? submitted by /u/evilchuck11

Looking for idea on how to invest a bunch of old 401K accounts. So through out my consulting career, I’ve amassed a bit of 401k accounts. I have $5,000 here, 7,000 there, 4,000 there, and one that’s around $70,000. I’ve left them in their accounts for quite some time but trying to figure out what would be the best course of action for these accounts. I’ve heard of people saying to invest in S&P 500 etc. I’ve…

Father passed away and we are trying to manage the aftermath Hello, my (31m) father (71m) passed away last November. My father was a poor man and didn’t really have anything to leave us. Im not complaining, he did his best in raising us and im thankful for all he did. I helped him out when i could by fixing things or gifting him things he needed. My sister hasnt done as well career wise as me, but she has…

28 Single, Financial advice much appreciated 28F | $84k/yr | Expecting a Raise/Promotion in March (Requested $120K) Savings & Investments: 💵HYSA: $17,150 💵401K: $6,600 (paused contributions) Monthly Expenses: 💳Rent: $2,330 (about 50% of my take-home after health insurance) 💳Wi-Fi: $50 💳Electric: $125 💳Gas: $50 💳Car Insurance: $150 (boyfriend pays it since I provide the car) 💳Prescriptions:…

I’m 26 and I give my mom most of my paycheck. Should I get another full-time job? Like the title says, I’m 26, live and work at home with younger siblings and one parent, and my paycheck helps with rent, bills, and groceries. We recently moved out of a rougher area, and before, all I had to pay for was 1 bill and every other grocery run. Now, I get around $400 in spending money per paycheck ($67k salary), and the rest goes wh…

HSA Contribution and Tax My employer contributed to my HSA last year. We haven’t done any transaction in that account, only the balance with the employer’s contribution. Do we need to file tax on their contribution? How should we proceed? They didnt send us any tax form to be included in our file submitted by /u/Something-5161

What are good intermediate term investments? Hello, I recently sold a house and put most of the extra proceeds into my 401k. Ive got maybe 37k I want to invest for short term 3-5 year goals like upgrading our house etc. I already have an emergency fund. Where do you put money to grow it on an intermediate time frame and do beetter than a CD or bond but not as high risk as index? Thanks! …

Considering selling my car at the end of the year for extra moving funds Currently in an apartment that is over my new budget for myself as I want to start focusing on rebuilding my savings in my 20s. I’m locked into my lease until November and I do have the funds to afford this and still pay off minimum payments and afford groceries; however, I just want to be able to make sure I can do a deposit for a new place. I …

Should I Pay Off My Car Loan or Contribute to My IRA? I recently purchased a car with a trade-in, leaving me with a total car loan of $16,358 at 6.2% interest, with a total finance charge of $2,204 over the loan term. However, if I pay off the remaining balance now, I would only need to pay $14,154, avoiding the extra interest. I have the ability to pay the full $14,154 immediately, but I’m conside…

Parent has been incorrectly claiming me as dependent on taxes. Can I amend my 2023 taxes to override this? I am 21 and a full time student. I live on my own and support myself. I am very low contact with my parents, they do not financially support me. I qualify for a tax credit for my education. I realized that I should’ve qualified last year too, but I was incorrectly claimed as a dependent by my mother. At the time, I didn’t think there was any har…