Not sure if I should rollover my 401(k) into a Roth IRA Preview your reddit post Clear 38729 Hi all, looking for advice on whether I should roll-over my current 401k into a Roth IRA and, if so, how exactly I do it. Current Assets: 35k in cash 147k in Roth IRA 31k in 403(b)at my current employer 90k in an old 401(k) from a former employer which I’m considering rolling to a roth IRA if this is an optio…

federal income tax and short term capital gain tax So if I made 3mil from day trading crypto with nearly 0 investment in the past 5 months. Do I have to pay both federal income tax and short term capital gain tax combine, 37% on federal and another 37% on short term capital on top? I don’t have any income before this submitted by /u/ParticularFeeling672

Lump Sum Pension or Monthly payment for Life at age 65? My dad (65) is retiring this year and needs advice on how to collect his pension: a $634K lump sum or $4K/month for life. He’s very healthy, and living to 100+ wouldn’t surprise me. His financial situation: Net worth: $3.6M – $2M in retirement accounts – $1M equity in primary home ($1.4M value) – $450K equity in rental condo ($1M value) – $170K …

How to allocate my 401k into new account? I am 31m and just changed jobs, so have a new 401k setup and am unsure as to the best allocation within it? Employer matches up to 3%. There are only 28 fund options and 10 of them are Target Retirement Funds. The other options are split between Vanguard Small, Mid, and Large cap Growth and Value Indexes. Some DFA funds, 4 international funds(VT…

Should I do cash out refinance on my home? So I got a letter in the mail today that I’m eligible to get 24k in cash or more but my new mortgage laon would be 179k with a 4.49-4.89% interest rate. I’m not sure if it would be wise to put the 24k back into the house (originally 155k loan with 6.75% interest with pmi). I have paid about 8k of the 155k loan currently. Is this a good choice or…

Hybrid Program and 529 Questions Hello! I am in a hybrid graudate program where the learning is mostly remote. I live in a different state than the program. I am enrolled full time. Would I be able to pay for housing using my 529 plan? submitted by /u/NefariousnessLow7731

Really bad debt for a broke college student Im 21 about to turn 22 and things aren’t looking good. I have about 20k in student loans I have to pay off and I’d say I have about 3 semesters left so it will end up being around 35k. I made some bad decisions with credit cards so I’m about 6,800$ in credit debt total, I have a very low paying job and it’s been really hard to get rid of this de…

Budget Struggle Single Mom I know this gets asked a lot, and I’ve searched the group, but here it goes. The basics: -I’m a 40-year-old single mom with a 4-year-old, living in Sweden (US-born) -I have ADHD. -I have a master’s degree and a decent job. -I have financial trauma. -I have no savings, no investments—just government/work-provided retirement. I feel like I’m drown…

Any free or cheap software for personal finances? I am looking for a good free or cheap budgeting software that I can use to really get a handle of what my husband and I are spending our money on. Hopefully something where I can upload bank/credit card statements etc. I want to really drill down different categories of purchases. Appreciate the recommendations! submitted by /u/Atimeforev…

Where can I adjust my budget to save for buying a house? Hello all. I’m 28F and I wanted to get some insight on where I can adjust my budget to save for buying a house (or if you think I could even afford it now). I currently live with my parents but would really like to get my own place soon. Salary – $120k Monthly expenses ~$2k (this includes $1k for rent to my parents) $72k in 401k (currently set t…

Paying Taxes after taking money out of investments I have about $100,000 in a vanguard account of which I put in out $85,000 I want to take out $70,000 to pay off some debt. Will I be taxed on any of the $70,000 I take out since it is not more than the $85,000 I put in initially? So if this is a dumb question. submitted by /u/golfguy_4653

75 year old senior neighbor, limited funds, hospital is forcing paying.. help? She was diagnosed with colon cancer and congestive heart failure last year, racked up $3,500 in hospital debt. Completed the financial assistance paperwork and they deducted $50 from her total balance. She has very limited income (social security monthly payments and a pension) she does not own a home, just rents an apartment. She has an older v…

Changing jobs with an active 401k loan? Been in current job 10 years. Recently applied at a different company and was wondering what would happen with my 401k loan that I still owe 38k on. It was taken out this past August 2024. The terms on MerrylLnch website just says upon termination it would be in default. But what happens at that point? submitted by /u/Babyfart_McGeezacks …

how do you pay off credit card debt efficiently? Hello I’m M (33Y.O) i have about 18k debt right now, I have 2 jobs.. 1st job i make almost 4.1k/4.2k and the other job i make 2.7k./2.8k per month, so overall i get around 6.8/6.9k = month…… now my monthly expenses are car = 600$/month car insurance = 200$/month 3 phone line + internet = 200$/month storage = 110$/month apartment = 1,700/mont…

Electric bill suddenly skyrocketing ; 10x meter multiplier on my bill TLDR: There is a 10x meter reading multiplier on my electric bill – is this normal? I own a two-unit rental home, with one small 1 BR unit (

How much to save in preparation for having a baby? Hello! My husband and I are hopefully going to have a baby in the next 2 years. How much do we realistically need to save for a car seat, crib, stroller, etc? Anything financially we should be thinking about (aside from childcare which we already have a plan for)? We will immediately start a 529 for baby so all good there 🙂 submitted by …

Financial Advisor saying to only contribute to Roth 401k for next 9 years before retirement I have about 1 million in a regular 401k. No roth of any kind. She thinks I should hedge in case tax rates go up in retirement. Most likely in will be in the same tax bracket or lower at todays tax rates. submitted by /u/BodSmith54321

Blended family estate planning I am remarried with 2 teenagers from my first marriage and 2 younger ones from my current marriage. I’m early 50s and wife is late 40s. We plan to set up a trust when I pass for the older kids. That way if my wife remarries or anything changes, my older kids get an inheritance. And my wife wants the trust and separations so the kids can’t say s…

Mother is 25k in credit card debt My mother is 67 and seems to be addicted to spending. She is depressed and treats it with food and frivolous spending. I have tried to get her into therapy to no avail. She will not take care of herself. I just found out that she is 25k in credit card debt, and it keeps growing. She also has a car note (11k at 6.8% interest rate) She has about …

Should i max out my Roth 401k? Hi everyone, I’m 23F have been working for about 8 months after graduating college. I make 93k right now, no debt at all. My take home before any retirement contributions is 2580 bi weekly. I have about 35k in my hysa. I started contributing 25% to my Roth 401k to try and max it out this year. Is this the best decision? I don’t have any other in…