Backdoor Roth Q While Moving Rollover IRA to 401k Provider Thanks in advance to this sub, as its amazing at helping everyone, including myself. I understand the Backdoor Roth (BDR) conversion process. For my personal case, it’s easy – I have all of my pre-tax money in a 401k (no other IRAs or Rollovers etc.). My question is for my wife’s situation, who has a Rollover IRA, and I just wanted a sanity che…

Florida Prepaid or 529 Hi guys, Newborn this month. I intend to use 35k across accounts. Options: Lump sum Florida prepaid 25k (not including dorm) Open 529 with 10k Lump sum Florida prepaid + 1 year dorm 32k Open 529 with 3k Open 529 with 35k and let it ride Thoughts? Thanks for the feedback submitted by /u/Advanced-Psy

Running out of savings Husband and I used to have about 20k in savings. Fast forward to two kids later, my husband being out of work and unpaid for several months after unexpected open heart surgery, our savings is pretty much at $0. We own a home with a good interest rate and our mortgage is $1400/month. One car payment (other two are paid off) that is $470/month. An…

Reprise Financial Loan I took out a loan with Reprise around 6 months ago. Incredibly stupid, I know. This is not on my credit reports on Credit Karma. The interest rate is like 35% so I haven’t made a dent in the loan over 6 months and am paying 250 dollars a month on it. What happens if I just stop paying it altogether?! If it’s not on my credit report now, can the…

Requesting Advice on How Best to Use My Disposable Income Hey Everyone I’m in a fortunate financial position where I’m earning a decent wage and able to still live with my parents. I have about £1,200 disposable each month. So far, I’ve been investing about 20% of that into stocks/shares, 20% into crypto, and the remaining 60% straight into an ISA. I’ll admit that this is not an educated plan – I simp…

Help me figure out what to pay off first. So I’m in my late 20s and have quite a bit of debt. I have 7k in student loans still at a very low interest rate. I have a consolidation loan of about 14k at 6.7% And I have a stupid credit card 12k owing at like 19% Initially what is in the consolidation loan was also part of my credit card but I had a pre approval to put 15k into the loan at a…

Laid off this week, on paid leave for 4 more business days. Anything I should do while I’m still technically employed? As the title says. Laid off on Tuesday morning, on paid leave until this coming Wednesday. Are there any things I should do while I’m still employed? (I’ve read through the wiki but didn’t see anything concerning this tiny gap between layoff and official unemployment). An example, and what made me think of the question, though not what I’m plann…

I think my elderly mother is a money mule My 70 year old mother that I have had a strained relationship with for years is doing something illegal I believe. She has fallen prey to several romance scams and other financial scams over the years. She will absolutely not listen to anyone about this issue being a scam. She has lost thousands of dollars over the years. I know she has applied …

How to get out of this bad car loan? I put myself into a really bad situation and am trying to see what my best option is. I currently owe $23k of remaining payments on my car loan with a 15% interest rate. If I do the payments for the remainder of the loan I’ll end up paying $34k+. Carvana has offered me $19k for the car (Nissan 370z). So if I was to pay the $4k in negative equit…

Car advice/ financial advice I have a 2020 Corolla LE, almost at 100k miles. I got it used with a 3.9% interest rate. I still owe about $10k and am about halfway through paying it off. I’ve been looking into getting an older car, possibly a Honda S2000 or a 2016-2017 Honda Accord. I’m also considering upgrading to a new-gen GR86. There are other cars I’m interested in, like…

I need help budgeting for a home (young and dumb) Hey all, I am 25 years old married and a Marine Corps Veteran and work for the railroad. I work about 9-10 hours a day 5 days a week m-f ( I choose not to stay 12 hours lol) I could make much much more working a road pool but love being home and going fishing and to the gun range with my dad and date nights with the wife. I make the same amount …

Roll over my 401k to traditional IRA vs. ROTH IRA I mentioned about rolling over before but I just want to be extra clear, if I roll over my 401k to a traditional IRA, I can still do what I want like a ROTH IRA but get taxed heavily right? Could I roll over my 401k to a ROTH IRA to get taxed right away before makimg investments? submitted by /u/Ok-Discussion325

Nearing retirement, where should I put inheritance? I’m 57 and eligible to retire from Federal Government. My husband is 56 and eligible to retire from State Government. I have 600k in my TSP (401k) and he has about $200k in his. We owe $100k on our mortgage, and a few other debts that we can pay off fairly easily. While eligible to retire, I didn’t think we had quite enough in retirement savings…

Which Funds to Use in 401K Hi, I just started a new job and enrolled into their trad 401K which is managed by Principal. Below are the funds available to me. I would like to replicate a VTI/VXUS allocation with a 65/35 ratio if at all possible. At this time, I’m thinking of: Principal Large Cap S&P 500 Principal Mid Cap S&P 400 Principal Small cap S&P 600 Principal Intl …

What age were you actually able to max out your 401k? I’m 25 and make 60k per year. I contribute 5% of my pay to 401k and my job matches 5%. I did just increase my contribution amount to 7% and will continue to raise 1% every time I get a raise/promotion but at what age were you actually able to max out? I do have a savings of $35k, and married with a mortgage and 2 kids so I obviously can’t affor…

I’m 17 and I want to learn more about investing and finances. If you guys could mention any good videos or books or even websites it would be greatly appreciated. I just want to be financially literate from a young age. submitted by /u/Zak_69420

Signed up with Primerica, what can I do? Hello everyone, I just signed up for Primerica this evening because my personal tax helper told me opening up a Roth IRA would be good since I wanted to start saving. She got me in contact with a sales person at Primerica today, and the whole conversation seemed off, however, I must admit that I’m pretty naive when it comes to savings, investing…

How can I build wealth at 18? Hey! I want to get ahead of the curve on my finances while I’m young to build wealth asap. I’m fortunate enough to be able to attend university next year which will hopefully land me a six figure job only a couple years after graduation. But for now… I want to grow as much as possible while I’m young. Would it be wise to buy index funds? I’m mak…

Getting out of credit card debt I have been disabled since 2017. I worked here and there but my health issues always came back worse than ever so I would have to cut back on working. I started attending college online so I could at least be working towards something and got a WFH job June of last year. While I make a decent income now, I have probably close to $100,000 in deb…

Graduating Soon – Trying to Set Myself Up for Financial Success. Advice? Hey guys, I’m a 23-year-old male graduating this year. Right now, I make around $2,000/month, and my bills are pretty low at $185/month since I’m still in school. This summer, I’ll be starting a new job that pays around $3,300/month. I was young and dumb (still am, but trying to change that) and have $400 in credit card debt, but I’m paying it o…