Musk’s Cost-Saving Claims Are Wrong in So Many Ways

( www.nytimes.com )

Musk’s Cost-Saving Claims Are Wrong in So Many Ways We found huge errors in the “wall of receipts” for Elon Musk’s so-called Department of Government Efficiency, where the group lists what it has saved by canceling federal contracts. After The New York Times and other news organizations pointed out the errors, the team quietly removed all five of the largest savings it originally claimed. But Dav…

New York Times Politics 902 2025-03-04

Are 401k Roth conversion profits offset by stock sale losses?

( www.reddit.com )

Are 401k Roth conversion profits offset by stock sale losses? Say I have a traditional 401k with $200k in contributions, and $50k in net growth. If I do a Roth conversion on the full amount, it would increase my taxable income for that year by $50k. If I sold stocks at a loss up to -$50k, would those losses offset the profits in the Roth conversion, thereby making my taxable income for the Roth conversion …

Reddit Personal Finance 670 2025-03-04

Went to a financial advisor about starting a Roth IRA and almost got steered into a indexed universal life insurance policy.

( www.reddit.com )

Went to a financial advisor about starting a Roth IRA and almost got steered into a indexed universal life insurance policy. Hey everyone, Just wanted to share my breif but recent experience and everything that Ive come to understand so far. For starters, I reached out to a financial advisor with the original intent of looking into building a Roth IRA. After the first meeting they tried to steer me towards doing an indexed universal life insurance policy as an invest…

Reddit Personal Finance 450 2025-03-04

Wife’s employer offers only a brokerage account, locked to one investment type?

( www.reddit.com )

Wife’s employer offers only a brokerage account, locked to one investment type? My wife started a new job recently and we were told they “offered a retirement account with 60% match up to 3%”. She has invested into it for about 6 months now and I noticed on her W2 it was not a 401k, it appears to be an IRA brokerage account. Digging a bit they ARE matching 3% of her investment, but it’s all into some weird Fidelity advisory…

Reddit Personal Finance 1.0k 2025-03-04

Does it ever make financial sense to rent instead of buy a home?

( www.reddit.com )

Does it ever make financial sense to rent instead of buy a home? Can I ever come out with MORE money in the end if I decided to rent? If so, how? Or will buying pretty much always lead me to more $$$ in the long term? I own my first home right now and want to move. I want to be closer to a city, which almost makes rent be the only option in my budget. I probably will never live in a state longer than 5 years …

Reddit Personal Finance 370 2025-03-04

RSU tax question. Sell shares or send in my money?

( www.reddit.com )

RSU tax question. Sell shares or send in my money? 12 months ago moved to a role with RSU and gotten my first grant. Fast forward to now 1/3 will be vested. Of the vested amount, I’ll have the option to liquidate ~30% to pay for tax, or send them a check. What’s the preferred, tax advantage option to handle this situation? Edit 1: thanks all. Consensuses here are teaching me from a tax perspect…

Reddit Personal Finance 1.1k 2025-03-04

What are the savings buying a used car vs leasing

( www.reddit.com )

What are the savings buying a used car vs leasing Example Sensible lease 1k Down $300 a month lease for 3 years (Chevy trax, entry level Kia’s/Hyundai’s etc.) Used car: Lets say 15k? Interest rates on used is roughly 10% now. Say you put 4k down on a 15k car. This would be a car with decent reliability (2015~ Mazda 3, Civic, Camry etc.) you have to pay for repairs too. How much are you really s…

Reddit Personal Finance 1.2k 2025-03-04

Conflicted between larger emergency fund vs investing more in the market

( www.reddit.com )

Conflicted between larger emergency fund vs investing more in the market I’m fortunate enough to be able to max out my 401k and IRA. In addition to that I used to put everything else extra in the market. A few years ago I purchased a house and sold everything in my individual brokerage account towards the down payment. At that point I had a tiny e-fund so I started putting extra money towards that instead. Had to pul…

Reddit Personal Finance 934 2025-03-04

I think I’m limiting my career/income to stay safe with a pension.

( www.reddit.com )

I think I’m limiting my career/income to stay safe with a pension. I (39/m) have about 12 years into a pension (2x the number of years of service x average best three years). No COLA. Current average is 90k. Current investment into pension is 70k. Current salary is 94k with 7.5% going into pension and 15% going into a low fee target date 403(b). 403(b) only has about 50k because when I was younger I heard “pens…

Reddit Personal Finance 931 2025-03-04