What else I should include in my plan? My current financial plan is to get a job, stay at home until I can purchase a house, and use investment retirement vehicles while working until I retire. It’s very bare bones currently and I’m just at the starting point in college getting my degree. Is there anything else I should add to my life long financial plan or anything that I can do in …

Taking gains while in 0% long term cap gains bracket? Right now I could sell stocks with ~$20k of gains and be within the 0% capital gains bracket due to my income being so low. I expect to be in a much higher tax bracket next year (graduating). What things am I missing that could screw me? Or can I really take gains right now and be tax free on them for this year, and then just reinvest at a highe…

Not possible to invest until a tax resident? I will not be considered a tax resident until I pass the substantial presence test. Since I’m not yet a tax resident, it seems that I’m unable to register for a brokerage (ex. Vanguard). Is using a HYSA until then the best course of action? submitted by /u/vvhodis

Starting retirement savings as a 40-year-old. Hi everyone. I’m hoping “Better Late Than Never” is a truism here, too. I’m looking to start setting up an IRA and get some other retirement instruments started. I’ve never had a traditional job, have no 401k and haven’t had regular salary to invest a portion of. Instead, I’ve had a bank account. Ha. Not ideal, I know. I’m considering starting…

Getting close to early retirement… please help me understand backdoor Roth Long story short, my wife and I are approaching retirement within 5 years. She has made a nice income overseas that is all FEIE, and so has only contributed to Traditional 401k (can’t exclude the income from taxes AND contribute to a Roth 401k, as we were told, and we felt it was safe). I earn a military retirement which is pretty meager. When w…

wrong W-2 and employer refuses to correct it so a little backstory i worked at this job for a couple months and everytime i got my paystub it had the wrong last name, the wrong address, wrong city and everything on them. i told my manager multiple times it needed fixed and she assured me it would be (it never got fixed) fast forward to now im not working there anymore and i receive my W-2 …

Around $70k in bank accounts. Best use? So over the years me and my wife have been just saving money for no particular rhyme or reason but doing it in a silly way. So combined we have about $55,000 in checking accounts, $20,000 in savings accounts, and then there’s maybe another $40,000 or so in various retirement/investment accounts that have been inherited. We currently have a house…

To execute or not execute small portion of vested ISO shares from private company – what would you do? I have ISO vested shares and using Carta calculator to help inform my decision. Currently it’s estimating i’d have $0 AMT based on my taxable income and playing around with FMV. I have a general understanding of the exercise process, potential tax implications, and know we’d need a trigger event like IPO or selling. I’m not looking to exercise a…

Rolling over pension into Roth IRA Hey All! If I get a check from cashing out an old pension and want to roll it into my Roth IRA, does that count towards the yearly limit? Also, how does the IRS know that it’s a pension? For something like a backdoor Roth, you have to fill out form 8606, is there something similar for doing this with a pension. Thanks! submitted by /u/Rea…

How Do You Balance Saving for the Future vs. Enjoying Life Now? I’m 35, have a stable income, a young daughter, and a small side hustle that brings in a little extra but not a lot. My finances are in decent shape—I save, invest, and live within my means. But lately, I’ve been thinking a lot about balance. On one hand, I want to be responsible: build a strong retirement fund, contribute to my daughter’s futur…

Looking to pull financial data for 3 years prior My daughter turns 21 in April. My XH is now chomping at the bit because our child support agreement changes slightly. It’s not contentious but he’s a little delusional about what her actual out of state college costs are being incurred outside of tuition. I’m looking for some type of software that I can input my account info and it can pull usin…

Would you ever treat a Roth IRA like secondary emergency/savings? I was wondering about the theory of this for an average earner. I trickled into my Roth for a while and now I’ve got more average income and I’m going to sometime switch to more 401k and HSA savings in the 22% bracket. But does anyone use the Roth to have $X to simply avoid tax? If I know I want a new car in ten years… why not save it in a Rot…

Was thinking about going solar? I’m not good with the math but I hesitate to take a $50k solar loan, which is tantamount to bad debt for a light bill… when I could theoretically take a normal loan for 50k and invest that into the market? I know the 30% credit helps with solar (would be $15k here) but I’m just thinking mathematically, which is the greatest return on capital? So…

529 To Bring Georgia State Taxes owed to Zero Situation – We have a child in college as a Freshman. While prepping 2024 taxes, we will owe $125 to the State of Georgia. If I open a 529 plan and place $2000 in it before April 15, 2025, it brings my Georgia State taxes due to $0. I would normally keep the money in a HYSA and make about $60 (less taxes) on the $2000 for the year. Is it a no…

Does it make sense to contribute to Roth IRA if you have multiple cancers? I’m 52 male. No family. I have enough nest eggs to afford $8,000 a year Roth contribution for 2024, and then whatever is allowed by IRS for 2025 and so forth. I have colon cancer and lung cancer. I seem asymptomatic to date, and doctors don’t know for sure what stage my cancers. If I contribute to Roth, can I withdraw 1) principal and/or 2) inte…

20, College Student, Pay off loans or invest? I am a 2nd year Mechanical engineering student, who is about to come into $4,000 which is a lot of money to me. I live at home and have taken on $15,000 in loans at 6.5% interest. I make monthly payments that essentially cancel the interest. I have been so focused on paying for school (I’ve contributed $10,000 besides the loans) that I haven’t s…

Seeking Advice: Best Vanguard Admiral Shares for Long-Term Growth I’m currently maximizing contributions to my 401(k) and IRA as my primary investments. Among the several accounts I inherited from my father years ago, one Vanguard account initially held around $10,000. I decided to leave it untouched and let it grow over time as I was focus on my primary accounts. Now, I’ve chosen to designate this account as …

Job offer 1hr commute with $12/hr increase in base pay working 3 days a week in a row? My current job pays $40 base but since I only work Friday – Sunday, my dream shifts ( I know I am crazy), my effective pay with differentials is $45/hr. My commute, one way is ~20min & I work 12hr shifts in the medical field. The new offer is at another hospital ~1hr away in a direction that is far less populated than where I am now in my state…

Not receiving a 1099 for contractor work I was doing some side work for a tech company in 2024. The company has gone out business and the CEO is not answering my questions about taxes. I assumed I’d be getting a 1099. Assuming I never receive one, what do I do in terms of taxes? I have records of all my payments and hours. I am not owred any money. ut I’m not sure what to do about Empl…

YNAB and Credit Cards I’ve been using Rocket Money, so I’m not convinced I’ll switch anyway, but I downloaded YNAB to see how I liked that one. Does anyone who uses this app also use credit cards to pay for everything? If so, how do you attribute that correctly? It’s basically assuming that I’m paying for my credit card plus the expenses on the credit card, so that I…