23, Just Landed a Job, No Credit/Car/Work History—How Do I Make Smart Financial Moves? I’m a 23 year old who just graduated from college with a computer science degree and have somehow been offered a close to 6 figure job in the DFW area with a 5k starting bonus. I have no debt, no credit card (or credit score), no car, and no work history, I live with my parents and have about 5k in savings. No one in my family has made this amou…

Sell my condo and rent? Or stay put and figure it out? Hi Everyone! I own a condo in SoCal, bought just over 2 years ago for 505K at 7.575%. Put 20% down. Realtor thinks it’ll sell for $650K. (I owe $395K on it). I’m single, 36, no real attachment… but the last 2 years have been tough work-wise. My industry went on strike and it hasn’t recovered. As a freelancer, it’s been tough seeing it drain my…

Need some help understanding hierarchy of investment… My understanding is it should go in this order, as I am self employed / 1099: Emergency Fund – 12 Months in Bank at all times Solo 401k – maxed out at 23,000 a year Roth IRA- 7,000 Spousal – Roth IRA- 7,000 Family HSA- 8,500 VOO- Remaining funds Am I missing anything? submitted by /u/WhizzyBurp

Bought a couch at Ashley and see 2 lines of credit opened I recently purchased a couch at Ashley Furniture and see that I was mailed credit cards from two different creditors. When I check my credit history through my bank, my score has dropped 40 points and only one of the new “creditors” show balance for the couch. How should I approach this situation? I don’t want both of these cards and definitely …

optimizing insurance policies (home, auto, umbrella aka PUP) – unmarried couple How can we save/optimize on our insurance policies as an unmarried couple who each own properties? Here is the situation: I live with my partner at his condo that he owns (value: $535K), and I “own” a house that I rent out (value: $850K). My partner has a 2nd property (value: $450K) that he rents out. Both my partner’s properties are insured und…

Pay off all student loans or continue to build emergency fund? Hi everyone! I’m a college grad – about 6 months removed from school – and I am working in finance/insurance unrelated to my degree. I make $30,000 a year and wondering if I should pay off all of my student loans. The only worry is that I want to have an emergency fund in case I get laid off. And because my degree (Kinesiology) isn’t in finance,…

Unsure about moving $16k in trad 401k to roth I simply don’t know whether I should just pay the taxes now and transfer the total. I only plan on continuing to contribute to my roth 410k, where I currently have $17k invested, so the money will continue to sit in the traditional account if not transfered. Some additional details in case it matters: I’m in my mid twenties making a little over…

Im 25 and I am terrible with money. Not even sure where it goes but im getting depressed seeing everyone have such big savings and I have barely anything. I will be 25 in 3 months. I live at home I dont pay rent. All I pay for is my car gas, insurance and phone bill which all equals up to about 700 a month. I make about 45K a year. For some reason I just cant seem to save my money. I quit smoking weed and quit drinking just to have less expenses and try to move smarter. I only have 4k saved right …

pour over wills and probate if i have a revocable trust for all my assets except household items of little value how do i avoid probate on these items can i gift all my household items and avoid the need for a pour over will and probate submitted by /u/psychwarrior7

Best way to apply for car loan Hi all, we’re in the market for a new vehicle, prob around $45k. Planning to put around 20k down and finance the rest. Wife is out of work for about 6 months as we just had our second kid, so currently no income there. I make $110k but we also have a $2,700 mortgage and a $300 car payment. No other debt. 800+ credit score. Given the one income a…

Credit card fraud – advice needed So my primary personal credit card has been compromised twice in the past 6 months or so. I had to replace it last summer and then just had it replaced again in mid-January. Today I noticed another fraudulent charge, it was $2 for a charity organization on the other side of the country whom I’ve never done business with. I called Chase to report…

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