What can be used to reduce MAGI I know 401k and HSA contributions reduce MAGI. I haven’t been able to find definite answers on if the health insurance premiums I pay for my employer sponsored plan do. Do pension contributions reduce my MAGI? What about half of self employment taxes? I’ve tried using MAGI calculators but they list a bunch of possibilities but also have “other” …

Should I sell my investments to pay off my car loan or readjust my finances and keep the investments? Hi! I am far from a financial person so I would like all of your help on this! I am trying to figure out if it would be better financially to sell my investments in order to pay off my car and then use the additional monthly income to rebuild my investments (or add to the savings). Or to keep them and re-budget money to pay off the loan faster. …

Mom was put in a memory care facility. What is the smartest way to liquidate her investments in order to pay for her care? My mother (69, FL) is suffering from the side effects of having aggressive cancer that has spread to her brain. I, as the oldest child and POA, have made the difficult choice to place her in a memory care facility and opt to stop chemo treatment in favor of hospice. Now I just have to figure out how to pay for it at $7200/month. I also have to …

Parents Stealing from My Bank Account Hello My parents recently took 400$ from my BOFA account to fix one of their financial issues that they had, which i had NOTHING to do with. That money is gone and spent and I will not be getting it back. I recently got a new card because my bank account was also hacked. They were able to take the money because they have access to my accounts, i…

What do with PSERS money after leaving school job? Hi – I worked part-time as a teaching assistant at a Pennsyslvania school district for 8 years. Quit job in May 2024 and became a full-time college student to pursue degree in Nursing. What should I do with the PSERS money – transfer it to Vanguard or Fidelity IRA? Leave it with PSERS? My PSERS membership class is “T-E” and membership status is …

Book recs for young adults who know absolutely nothing about saving & investing Hi, I’m a 20F college freshman who has little personal finance knowledge. I also haven’t worked a day in my life; mostly because my immigrant status didn’t allow it & it’s also not common in my culture for students to start working in high school and my parent wanted me to focus on school as well. However now that I am in college, have valid US …

Kaiser billed over 1000 for lab work alone I just went for my FIRST prenatal appointment, which included lab work. This is only the first visit and first set of lab. They tested for regular blood work, PAP smear, and also traits for CF, and a few other abnormalities. I know there will be more tests. This is the first time I have Kaiser, but is this normal?? This is so expensive. Anything…

I have $30k in an investment account and owe $24k on a consolidated loan. Monthly payments are killing me, should I cash out the investment acct and pay off the loan to start over? The loan is consolidated debt across a couple credit cards and a loan from a business that went under during COVID. I’ve paid it down over 4 years from about $50,000 in 2020, but the monthly payments (roughly $900/mo) are crushing me. The investment acct is collateral for the loan. The interest rate is 9.05%. My income is about $2,100/mo on a go…

How to prevent fraud from taking over 27F. My identity has been compromised twice in the past 6 months. The first time they tried to open a credit card. I caught it within a few hours and was able to dispute it and lock my credit with the three main bureaus. Now, my data has once again been leaked in a breach. Someone used a retail credit card to order clothing to their warehouse i…

Medical Debt – payment plan? Hi! I’m looking for any/all advice here. 6 months ago I had a baby and underwent severe birth complications. I sunk $7k cash into a midwife and birthing center and was ultimately transferred to the hospital. Long story short, I have $13k in medical debt from this after insurance was applied. I am 27F and make $60k a year. I have around $45k in a…

17/yr leenager looking to be educated Hi there I’m a 17yr old teenager girl who comes from a family who made a lot of bad financial decisions. I don’t want to repeat the cycle and wish to become very money smart. Are there any book, podcast, or maybe YouTube videos I could check out? I added my age because I have no knowledge whatsoever but I’m getting my first job soon and hopefull…

anyone have a solo 401k? how do you fund the employee part? thinking to fund the employee part directly from my checking account and the match from my company account. online it says you do it through payroll but I can’t see how every payroll provider supports every investment firm out there submitted by /u/lost_in_life_34

What do I do with my savings at 18? What do I do with my savings at 18? So I am 18 have little to no expenses and have about $15000 saved up. Heres a bit of a breakdown. Income: – Full time job 2400/month after tax -OT 600/month on a good month and definitely not guaranteed OT every month. on average 2500-2600/month after tax income. Expenses: -Car payment $500/month 0% interest -…

High deductible caused me to have $0 take home pay I started a per diem job B working once a week. I already had another 32 hr part time position and another per diem A. When I filled out my information for per diem B, I had a high deduction for taxes. Didn’t think much of it. The job didn’t work out, I haven’t gotten paid for the few shifts I worked so I messaged the owner who said that becaus…

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Details on how to take money out of a 401k and retirement accounts I see lots of posts on how to fund and transfer and all sorts of things related to 401ks and retirement accounts. Now I’m only 30 and not close to retirement and am funding my 401k , but are there any vids that explain what to do when you get to the retirement age. Like I know you need to be 59 or 60 to pull money out tax free of a 401k but ho…

Refund to FSA card not hitting until 2025. What happens with that money? I’m expecting a refund to my FSA card from 2024 that won’t happen until after the new year. I tried calling to see where these funds are allocated to (2024 or 2025) but the customer service people can’t seem to understand what I’m asking. Does anyone know if these funds will be stuck in 2024 or be added to the 2025 bank? Also should I purchase …

Facing a Medical Bill Due to Denied Claim – Need Advice Hi everyone, I’m in a tough spot and would really appreciate your thoughts, feedback, and advice. Here’s the situation: Back in 2021, my child had to spend 3 months in the NICU. It was an incredibly difficult time for our family, but we were grateful for the care they received. I’m covered under a self-insured insurance plan provided by my emp…

I messed up my Roth IRA My husband and I usually do a backdoor Roth contribution. The other day I contributed $3000 directly to my Roth IRA and realized my mistake too late. The amount was never invested. I withdrew l that cash $3000 about 2 days later. Unfortunately, my Roth IRA says I can only contribute $4000 to it now . It still shows as me having contributed $300…