What are my options for tax savings at my income level Hello, thanks for your time! 30F, NY I’m curious as to what my best options are to help minimize my tax burden. My total income was around $400,000 for 2024. I’m self employed (1099). I pay quarterly taxes. From what I can tell I can’t open a Roth IRA due to my income. Am I correct by saying I can do a back door Roth IRA but I can only contribut…

Struck with debts. Is there a way out? I really need to vent this out. Been keeping it to myself and suffering a lot mentally. I am 25M and a MS Graduate from a US university. I am from India and came to US on a student visa. I took a $55,000 loan to pursue my masters degree and successfully completed the degree. Working oncampus i was able to make few payments towards the loan and b…

I want to start investing Hello, I would like to start investing 100€ a month in S&P500, never invested money before and I am wondering what is a low commission brokerage, what fees I have to pay given that I live in Italy. Thank you ! submitted by /u/xruthlessmf

I have not filed taxes in 7 years- now I have a W2 I’ll keep it as short as possible and make edits when/if more info is needed: I am 28 now and I have flipped houses and owned some rentals for a little while. All of this has been done through various LLC’s. In 2017, I had a contractor walk with over $200,000. I was way too loose managing him. I do have a W9 for him. It wasn’t worth pursuing in …

New car buyer APR is crazy high (I think?) I have a slim credit history and my score is a 658 but I have my dad as a co-signer, I went to a used car dealership yesterday and they gave me 22% apr on a $13k car. Naturally, I said absolutely not. I argued with the salesman for a little because he wasn’t taking no for an answer but when I stood up to leave he told me to wait and brought back…

My job offers both trad 401k and Roth 401k but not sure which direction to take because my salary is kinda low. I 30M have a base salary of about 55k, minus the overtime. I work in manufacturing as a technician mainly worked retail and service industry most of my life, so this is a big step up for me. The company I work for offers 6% match and offers both trad 401k and Roth 401k. I done some light reading in which to prioritize, a lot of Roth and a lot o…

How do you people do it in San Diego? I have been here all my life. I’m 30, 2 kids and a wife.. my yearly income is about $67,000-$70,000.. I just started this job this month and in a few years I should be making around $100k then but for now I’m the only working one. My wife stays home with my 2 boys who are 10 months and 2 years old. We live with my parents since rent around my ar…

raising money smart kids As an adult who did not get financial education in my youth, either from school or family, I’ve made it my mission in life to change my kids’ stories. I’m still learning this myself, and hoping to pass on to my kids even just the right attitude about money. For those who were fortunate enough to have been learned much younger, or were successful…

Fidelity is saying I’m too aggressive for my age I am a 28 yearold that is only just starting to invest into a 401K now (didn’t have the option prior) – I plan to max my contributions over the next years to play some catchup as well as maxing out ROTH IRAs These are obviously funds I don’t need to touch for the next 25+ years I’ve read quite a few posts on here saying that FNSBX and FXAIX are …

I Was Gifted an Annuity Several years ago my mom (then about 80 yo) told me that 20 years before that when my brother died at age 30 he had left a small annuity. As his next of kin she had inherited it when he died intestate. He was a biker who died in a street fight so him having left an annuity was odd, but ok fine. The reason my mom brought this up was because she h…

am I dumb/naive to leave all of my money in VOO? 24, single, I have what i’d consider a very stable job that i’m happy with (although not government/union/tenure), other than a 6-7 month emergency fund and 1 month of expenses in a checking account, every penny to my name is in VOO… Not anticipating any short term major expenses like a car or house, i’m not missing anything right? submitted…

When to stop funding a 529 Any thoughts or guidelines as to when the amount of funds in a 529 may be considered sufficient? Of course it will depend if the child goes to public or private (or no) college, grad school, etc., and I am also aware of the new rule that some excess funds (up to I think $35k) can be rolled into an IRA if certain criteria are satisfied. Given all…

Why choose Roth 401k over After-tax with Roth conversion? My 401k plan offers before-tax, Roth, and after-tax contributions. My employer will match any of these three contribution types, and the after-tax contributions can be immediately converted into Roth (mega backdoor roth – MBDR). The IRS limits in 2025 are $23.5k for combined before-tax and Roth, and $70k total including after-tax. Ignoring the b…

My MIL just got named a 50% beneficiary in her neighbor’s, neighbor’s will. Bear with me. MIL(65) lives in a single home with her husband(60). Husband owns that home outright. Their neighbor on the left (Bob) is just Bob. He’s 60-something, keeps to himself, likes his garden. Bob lives alone. They are friendly with Bob. Bob has a neighbor on his left, Mary. Mary is mid80s. She’s still with it, somewhat getting around bu…

Maxing out 401k during maternity leave My wife is due soon, and there is a good chance she is quitting after her 12 weeks of maternity leave to raise our kids. I think we should try and max out the 401k before she quits. She is hesitant to do so. She dislikes the idea that the money is locked up for retirement and would rather have that money in savings or something more liquid. W…

Want to move out but my mother cannot afford living on her own I (28m) want to move out with my brother (24m) into an apartment together. We can afford a 2 bedroom apartment even though would be more expensive than our current living situation. But being 28, I’m reaching a point where I can hardly stand living with my mother anymore. She is a great mom and always has been, but I find myself getting very fru…

IRS IP PINs for 2025 are available now The tool is now showing my PIN for 2025 after I log in. Woot! Get it today to protect your tax return for 2024 (and any years that you file in this calendar year). https://www.irs.gov/identity-theft-fraud-scams/get-an-identity-protection-pin Important information about IP PINs An IP PIN is valid for one calendar year. A new IP PIN is generate…

$30k bonus – How would you invest it for your child? Here are the parameters: $30k before taxes Kiddo is 3 years old Long term investment, I don’t want to have to fiddle with it too much Looking for max compound interest and appreciation The whole lump sum What would you do? submitted by /u/AmbitiousArtichoke65

My experience with Dow Janes MDY/WBA I spent one year and $12,000 going through the Dow Janes Million Dollar Year and Wealth Building Accelerator. So, was it worth it? DEFINITELY NOT. I was at a very vulnerable time in my life… my mother had just passed away and left me with a small inheritance. I’ve had a very poor relationship with money my whole life and I wanted to take a cou…

Just got my first rent stabilized housing lottery win in NYC and wondering if it’s worth moving long term/financially. I just won a housing lottery in Astoria and i’m wondering if it’s worth moving based on my details Housing Lottery 1 BR Housing Lottery Rate: $2,600 Market Rate: $4,000 In unit laundry, rooftop access, gym, parking, allow pets and a bunch of other amenities but will likely be an extra cost on top of the rent. Hot Water included About me I’m s…