25year old advice to snowball? Hi, I’m hovering a bit above 100k Net worth (108k) as a 25 year old, almost 26. I currently work in sales in a HCOL area (SF Bay Area) with a $130k on-target earnings. 78k base 52k variable which is taxed at a higher rate. Rent + utilities is around $2050 per month, other spending is around $1500. Currently deducting 10% of pay into my 401k, on…

Over contributed to 401k. Do I have to notify plan administrator? Hi all, I’m wondering about the following situation. I switched jobs last year and overcontributed to 401k: Job1: contributed 23k to Roth(has 50% match) Job2: contributed 11.5k to Roth (100% match up to 11.5k) So I’m not sure what to do – I already paid taxes on my contributions. I just technically need to withdraw contributions + earnings and p…

Shouldn’t financial planners be able to tell you what your investments’ annual performance is (TWR %)? My financial planner has not provided that. I had to calculate it myself in excel after watching YouTube videos. Assuming I calculated it correctly (it is confusing because I contribute a little bit each month), we only had a 12% performance last year, when the S&P had a 25% year. This is a huge concern, no? Given we want a high-growth portfolio…

US Federal Employee: takes FERS ~30k payout, or take deferred retirement of ~$700/month i am a federal gov’t employee in the US, leaving federal service sometime in the upcoming months. i’m 53 y/o, and already have a good military pension and VA disability. i have roughly $30k in my FERS retirement acocunt (not TSP, not a 401k, or anything like that, it’s the federal pension system) when i leave the gov’t, i can choose either of th…

Just hit 30 Y and 10k in savings, advice on maximizing this moving forward? For context : in 2020 I was 17k in debt, no savings at all, 18 an hour pay working a job I hated. This year I turned 30, WFH position making 25 an hour, no debts, rent and living expenses are very low so I can typically save about 300-500 from each check while still having leftover money to have fun with (I go to a lot of concerts and would like…

26 and feeling behind. possible to reach savings goals by 30? For context, I am 26/F. No family wealth. Will be graduating later this year with my PhD. Currently earning 43k/year this year on residency. before this, my PhD paid me 18k a year for 5 years. Luckily, I do not have a single cent in student loans due to a combination of scholarships, assistantships, and family support with schooling. My starting…

Company went out of business (bankrupted). 401K provider closing out the account. What to do? I want to ask the smart people on reddit where should I move the money to! Company I used to work for went out of business and the 401K provider gave notice the account will be terminated in a couple of months. The 401K is fully vested with $100K. Do I roll it over to my one of my active 401K, Trad IRA (currently at $200K) or to Roth IRA? I am c…

Stressing over retirement in a single income house… Just wanting to get input from others regarding retirement. My wife and I choose for her to be a stay at home mother when we had our first child. We current have two kids and she has been at home for 10 years now. Our youngest is getting ready to go to kindergarden so she’s going to possibly start job hunting for something to do while kids are i…

What should I know about rolling over my balance from a 401k from a previous employer into a 401k for a new employer? I started a new job and have a new 401k with a different provider. Does it make sense to roll everything over into one account? Are there any tax implications in doing so? submitted by /u/Luke_Atmi

Job doesn’t offer 401k, what to do? Hi! I’m a mid-30s married woman who just started a new job making $145k, but they do not offer any 401k. My husband makes $120k and maxes out his 401k (with matching). Together we have a HYSA with $156k in it—we know we could invest it but we thought we would buy a house this year and it would’ve been the downpayment. We have no kids yet but wan…

Separate emergency savings Never understood this until I walked out and found my truck missing. $300 tow ticket coming out of my savings? Brutal. Week-ruiner. $300 out of emergency savings account? Feels like paying with Monopoly money. Couldn’t be less upset. So glad I set it up and would recommend to anyone who hasn’t yet. submitted by /u/chadwickbradford

Filing taxes for a deceased retired person So, my mom passed away a couple months ago (specifically, the day after Thanksgiving), and luckily for me, I’m the executor of her estate (yay). Anyway, it’s the start of tax season, and so far I haven’t seen a single tax document get mailed to her. She was a single woman (dad passed several years ago), who had been retired for a number of years…

How to avoid “Penny wise, pound foolish” I’m mid career with a modest portfolio, a good salary, and solid 401k. I spend very little time on my investments – I just let my 401k auto rebalance among a handful of funds, stick to simple mutual funds in my brokerage account, etc. However, I find myself stressing over having a few too many streaming services, or paying $10/month more on cel…

Employer erroneously doubled my 401k contributions Title says it all. I elected part of my profit sharing to fill the 23.5k limit of my 401k. Woke up this morning and it’s 47k! Happened to other employees as well. Other than notifying the company what else should I do? My funds are automatically invested. Should I try to cancel the automatic order and sit on the money in “cash” until they unscre…

What to do for my son? Hello. New poster here. Expert at lurking. To make it simple, my son is 1.5 years old. I want an account for him that can be invested. Preferably under his name if possible? The plan is to let him have access to it when he is 15-18 to buy himself a car or use for college. I prefer no restrictions but not sure what is out there. Currently, the mo…

All of a sudden have a 457b? I had been contributing the max to a 403b. I left that job last month. Today, I looked at my retirement account and all of a sudden I now have money in a 457b? Then, I just got this email from fidelity: “You are receiving this notification because you have a balance in your XXX 457B PLAN and do not have an electronic funds transfer designation …

Currently underfunding my retirement yet still contributing a modest amount to a 529 for my kid. I’m a late bloomer on financial planning and had a kid later in life (40). Started with 0 put away but I’m slowly inching my 401k contribution up to the max, but I’m probably 2-4 years away from that. I’m also putting $50/month in a 529 for my kid also with the goal of increasing it but I’m wondering if I should hold off on that until my retirem…

Why are annuities considered bad investments? As the stovk market has grown so fast the last couple of years, sometimes I think it would be wise to take a chunk of money “off the table” and put it in an annuity to start paying out in retirement. Is this stupid? submitted by /u/PlayMaker566

Just turned 18 years old and have about 23,000 ILS (6,400 USD) in cash. What should I do with it? I’m an 18-year-old male from Israel with 23,000 ₪ (6,485 USD) in cash. What should I do with it? I just turned 18 years old a few days ago, and have about 6,400 USD in cash that I saved over the past 2 years working summer jobs, dog walking etc. For the past 6 months, I’ve learned a lot about financial planning and investing. I’m currently readi…

Watching my dad and FIL ‘age out’ of their careers has me (31) terrified of the same fate. How do I avoid this? I’ve been wrestling with something that’s been eating at me lately. I work in tech/product management, and I’m witnessing both my father and father-in-law go through what I can only describe as a slow-motion career crisis. Both are good workers, but they’re stuck in this horrible limbo where they hate their jobs but are too scared to make any mo…