Where to Invest Next for Retirement? Hi all, My husband and are both 39 and working corporate jobs. We want to set aside more this year to our retirement accounts as our income has increased by a good amount. We make too much to put it in a Roth IRA. Where should we put our money next? Currently we are: Maxing out one 401k Maxing out family HSA Putting in 5% company match into othe…

Should I keep my paid off car? I work from home. My husband and I each have our own car and he also drives a work vehicle so both cars mainly sit unused. We usually take my car out maybe once or twice a week to get grocery etc. Both cars are paid off. I work from home now and I am considering selling my car for $6,000 to pay off debt. (At least $50,000 total) We otherwise have minimal expense…

Total saved for retirement by 30 When people say that you should have one years salary worth of savings for retirement by 30, does your emergency fund and other money in your hysa count? Or are they just talking about money invested into things like roth and 401k? submitted by /u/bearjs

Debt management and finance management. My Fiance and i have some debts. Trying to figure out how to tackle it. My fiance has no retirement. We are trying to open a SEP IRA or 401k since she is self employed. We are trying to see what money should go where while saving for retirement. I make 140k/year and she makes around 70k/year as a 1099. Her Debt: HELOC: 8k at 8% (200/mo) (debati…

Question about 401k and death Let’s say you’ve invested a sizeable amount into your retirement account throughout your working adult life, and then you go to the doctor’s office one day and find out that you only have so long to live. You will not make it to age 65. Are you able to cash out your retirement accounts in order to make use of the funds? Since you are nearing end…

Looking for a budgeting app that is simple and effective I am looking for a budgeting app that i can use between my phone and laptop that is user friendly but will help me get my dmbudget squared away with the goal of being debt free in 2 years. I have some old debts to oay off as well as some current cards and loans. Any help is appreciated. submitted by /u/Actual_Animal_2168

Recasting after lump sum? Hey y’all, got a question ’cause I can’t wrap my head around it for some reason, even though I feel like it shouldn’t be that complicated. My wife and I are planning to make a large lump sum payment on our mortgage ($30k) after a CD comes to maturity. After doing so we’ve considered recasting the mortgage to lower the necessary payment, but cont…

Retirement question 401k vs IRA? Apologies for my ignorance, currently in the process of learning about everything. I’m just turning 25 and make $102,000 annually my employer is offering 25% for my contributions and up to 20% of my income. Is it better to stick with the traditional 401k or open a IRA? I would like to retire at 60. Any advice is greatly appreciated submitte…

Looking for freedom. Hey, I’m a 21 year old male looking for freedom, I have about 20 000 euro/usd saved up in stocks and other investments. I currently work as a painter and have realized I made the wrong decision work wise as I’ve realized my body really cant handle working a physically demanding job and going to the gym simultaneously long term. The pay is alrigh…

Maxing out 401(k) all at once vs. over the year I am thinking about deferring 100% of my bonus in to my 401(k) pretax next month. Doing so will max out my contributions for year all at once, but my thinking is that I’ll be getting the full amount rather than losing ~40% to taxes. The only downside I can think of is that by contributing over the whole year I will be dollar cost averaging and h…

Is it stupid for me to buy a house and rent it out as 20 year old? I’m 20 years old with $100,000 in savings and I want to do more with my money, My mom just found this nice newly renovated 3 bed 2 bath house in our area for $250,000 and wants to rent it out. She is very trustworthy and wants to go in on it with me but I’m nervous about spending so much money. What are the Pros and Cons of doing something like …

Am I stupid for not moving in with family for free rent? (22 year old college grad) I pretty recently graduated from school and currently live in my college town, and am going to be staring my first “real” job soon. I’m a single male andI pay about $650/m to live with two other roommates. I’m debating moving in with some extended family though, which would save me $8000 a year on rent. I specifically have an uncle who lives in …

How should I be saving my money?? I am 23 years old, 1.5 years out of college, currently make about $3100 a month. It’s low, but it’s increasing multiple times a year. I’m also a 1099 freelancer but have steady income. I live at home so my expenses are low. I pay for everything except housing and large bills. I currently have a decent amount saved and it’s dispersed as: -Chase c…

Employer has not withheld income tax for almost a year I just got my W2 and realized that my employer has not withheld federal income taxes since March of last year. I think there was a clerical error-I received a service award at my place of work that came with a $500 check. Every paystub prior to that award had taxes withheld appropriately, but every paystub after that has a blank next to FIT. Soc…

I’ve drowned myself in micro loans, how do I dig myself out? Hello, first time poster and I’m hoping somebody might be able to help me unfuck my situation. I have a decent paying job (90-100k/yr) and live in a low cost of living area. I was doing quite well financially until stress and undiagnosed ADHD took me into a bit of a spiral for a few years starting around covid. I started making large impulse pu…

Thoughts on taking a year off from investing just to reset finances? Will I be okay in long term? So here’s where I’m at 34M and 36F wife and 3yo child. MCOL to HCOL area. I work, wife stays at home with kid. That’s our plan until she goes to school My income: 235k with usually some type of bonus. Just started making this much 2 years ago. Previously at $120k. 1st year bonus, company did well and I got $50k (pre-tax) and this year I’ll get…

How much money should a 19y/o college student have saved? Pretty much the title, I’m a full time student and college has been pretty stressful for me. It’s been hard dealing with the workload of both college and a part time job so I chose college instead. I did work for ~5 months and saved majority of the money from that job. I live at home and go to an in-state college but my financial aid covers ever…

I’m starting a new job soon finally, but I am in deep trouble as it stands I know it may sound incredibly irresponsible, but I wasn’t in a good place. I hope I can just state it here without being hammered down about my stupidity. As title says, I am finally starting a full time job again that pays about $3200 monthly. I have ignored the tax mail for last year’s, for about 2 months now. I also currently have $5000 in c…

I would like advice on my budget I wanted advice on my budget Salary after tax/health insurance/retirement contribution: $7500 a month Rent: $2500 a month (including utility) Groceries: $650 a month Restaurants: $500 a month Car insurance: $150 a month Fun money: $700/month (bars, movies, etc) Gas: $100/month Gym: $15/month Phone: $80/month Streaming: $20/month Student loan pa…

Profited from selling my house… now what? I (31, male, divorced, one 7 year old child) recently sold a house and started renting an apartment. I realize that is already negative marks for some, but it’s a personal decision that I made in part because I do not intend to live in this area long enough to justify buying again; and in part to cross off a bucket-list item for myself (I’ve alw…