Roth conversion – avoid pro rata rule with interest bearing account Ok so I have one traditional IRA I keep open with a zero balance and each year I contribute to it and immediately do a Roth conversion on the funds (I’m too high of an earner for a tax deduction on the contribution if that’s important to know). What I find is I end up getting a tiny amount of interest paid from the very short-lived deposit prio…

Help me math – should I refi my student loan? I have a professional degree which, as a first time college student single-parent bootstrapping myself outta poverty left me with fun student loans. I refinanced my student loans when rates were low, and I’m only recently able to pay over my minimum payment. Lo and behold, my bank won’t let me direct extra payments towards principal. My current …

Found out I have a life insurance policy from AAA Hey all, So my grandma randomly informed me that she has been adding to a life insurance policy that she made for me when I was a baby. She said it has around $70k invested into it. I am wondering what I should do with it. Also, how do I take ownership of it? Can I withdraw from it? What would the taxes be? I am 24 and relatively healthy. I have…

Recieved a direct deposit that isn’t mine Hello, I recently opened a checking account with capital one and shortly after opening the account I recieved a direct deposit titled from target corporation. I have never worked for target and have no idea why this money was deposited into my account. At this point I have recieved 2 paychecks totaling over 700 dollars in my account and don’t kn…

Wanting to gift my son $20k for graduating college. But how? I know it’s not a large amount of money, but it’s $19,950 more than I had when I graduated. He has a decent vehicle, so need to purchase a new one. A few options I’m considering: 1) giving it to him in a lump sum. Tell him to buy a “want” but no more than $1000 to scratch the itch of wanting to spend it 2) use it to make his student loan payme…

Half sister giving me half of our childhood home’s sale- how much can I expect to pay in taxes? Hi everyone, My sister and I sold our childhood home that our father left to us. Because she is the executor, she was paid the full amount but will be transferring me about $75.5k to my account. What can I expect to owe Uncle Sam? Things to consider: I am not our dad’s biological or legally adopted son, but he was my “Dad” since I was 6. Sales…

Short Term Disability for a year and now taxes If I was on short term disability for a year and now returned to work. Is there a form I need to complete for short term disability for taxes this year? submitted by /u/alwayzJayded

Advice on buying a new used car? Hello all I hope you are well. I been going back and forth on buy a new used car I’ll list the details and issues with my car to see if it’s worth it. I was thinking of buying a used civic with 69 KM for 17,999 I have an 2010 Acura with 193,000 KM on it. It’s been paid off for 10 years now and well it’s now starting to show its age.. The AC is …

Help with downpayment on apartment Hello, I (20F) am going through a lot of financial hardship right now. I am currently looking for a job, and I have a low credit score due to lack of credit history and poor financial management. I am a student, and I have been applying to apartments in my area to rent. I was approved for an apartment, but they are requiring a 975$ down payment …

Should I sell my plot of land or keep it as an investment for my future? A few years back I bought 0.4 acres of undeveloped land in unincorporated northern Illinois with the goal of eventually building a home. A combination of high mortgage rates and personal health problems have postponed my plans indefinitely but I’m now wondering what would make the most financial sense. When I bought the property in 2022 I paid 2…

Federal witholdings on paycheck I work at a small business. Payroll and taxes are through a local bank who offer the services. We get checkstubs through our email and I’m not real great about checking them. When I got my w-2 I realized I had only paid in 22$ in federal. I had him check my w-4 and it’s set to single with zero. He says he has no clue what the issue is. Any advic…

Where to put commission? I️ (25M) work in a sales role that pays out our annual commission once a year in April. This will be my first year actually receiving a decent paycheck, around $17,500. After taxes, I am expecting this to be around $11,000. I️ hate taking on debt ever since I️ made the mistake of taking out student loans and want to payoff my private loan as qui…

Help choosing an investment account type I have about $8,000 I’d like to start investing with. I’ve commonly seen this order of investing suggested: Contribute the maximum your employer will match to 401K. (I’m already doing this @ 6%) Max out Traditional / Roth IRA (I’m not eligible for a Roth IRA due to exceeding the income limit) Contribute to a taxable brokerage account. I am hes…

Fiancé started working at world financial group (WFG) and I am convinced it’s a pyramid scheme we have a 5 month old together and I just want what’s best for us! He got recruited from a buddy of his. Even in the interview he clarified and mentioned that this is kindof sounding like a pyramid scheme and the interviewer informed him there “is no body at the top” since everyone can essentially gain more than the CEO, or some bf. My understa…

I’m in Debt and Worried I Got Scammed—Need Advice on What to Do Next Hey everyone, I’m in a tough spot and could really use some advice. I have a lot of debt, and a while ago, I hired Elite Legal Practice to help me take care of it. I’ve been paying them almost $300 a month for 42 months, but now I’m seeing a lot of people say that this company might not be legit. This has me really worried. I don’t want to keep …

Recast or wait until sale of starter home? I’ll try to summarize relevant info- partner and I recently moved out of state to accept new job offers. We have moved from a LCOL to MCOL area. We have already moved- found a home we love in a nice area. We bought last November with 5% down, sale price was $390k, interest rate 5.99%. Current PITI payment is $2800 Our old house has been on the …

Should I Switch Jobs 31M. We live in a mcol area. I have wife and 2 kids. Our condo is paid off. We also have 600k invested. Wife makes 70k a year, I make 80k a yr from regular job plus 40k from side business. We save about $4,000/month currently. We live frugal and dont spend much. My job is currently destroying my body. Its extremely labor intensive. I have been …

The Rise Of Authenticity: Why Genuine Connections Will Drive Social Media In 2025 via @sejournal, @donutcaramel13 Unmasking the authenticity crisis in social media: Explore the impact of fake content and misused AI on genuine connections. The post The Rise Of Authenticity: Why Genuine Connections Will Drive Social Media In 2025 appeared first on Search Engine Journal.

Mine & fiancé’s W-2s arrived opened My fiancé and I worked at the same employer last year and we both received our w-2s already opened. For context, he left the job last year and I’m still there. We live in different cities and received the w-2s on different days. His arrived first and there were 4 little strips of yellow masking tape to hold the 4 sides closed. Mine arrived just,…

Car got totaled, should I pay off student loans in full? My car was recently totaled and I received an insurance payout of $20,000. I have three outstanding student loans with interest rates of 3.73%, 4.9%, and 5.5%, totaling about $18,500. Should I use the entire payout to pay off my student loans? I have no credit card debt, a credit score of around 780+, and a net monthly income of about $4,000. I’…