Over 100 workers being laid off at my facility, looking for advice on retention bonuses and severance packages Hello everyone! have been working for a manufacturing company for about 10 years. Since our merger about 5 years ago, many product lines have been consolidated to other locations (large international manufacturing company). This has resulted in many machines and product lines slowly being relocated from our facility. Recently, the company annou…

How much can I contribute to a Roth IRA if my gross pay last year was $25K where $22K went directly to a Roth 401K? Does this mean I can only contribute to a Roth IRA 2024 for a max of $3k? (Let’s say I have extra money in my savings account from the past few years that’s been sitting there that I could contribute to to a Roth IRA.) submitted by /u/siargaowaves

Should I pay off my truck? Or ride the loan out? I have an auto loan on my 2018 f150 (look at my account if you’re curious, I love it!) Currently I owe $16k on it with a 3.19% interest rate, it’s worth about 22k from my research on comparisons for sale. So I’m in the positives “equity” wise I have the means to pay it off right now and be 100% okay financially, but my payment is only $459 a m…

Is it wise to invest over 30 percent of income on a s&p 500 fund? I am a young person, age 20, and the idea of early retirement and compound money growth has taken over my brain recently. The fact that statistically speaking I could be financially safe in the next 15 years and very well off in 20 years is such a nice thought. However, my paycheck is not impressive whatsoever, earning consistently 22 bucks an h…

What to do with 30k wedding gift? My partner and I were given a $30k wedding gift and we are trying to figure out where to put the money. We like the idea of splitting it between 2-4 things. We already had a plan for maxing out 2025 IRA contributions and have a safety net so don’t consider those. Should we… -pay off our debts (he has $6k I have $9k) -put more into mortgage to pa…

I’m over 60 and wanna protect 401K from loss I’m 4 years from retirement and if my 401K didn’t grow a cent in the next four years I’m fine. I’m more concerned with economic chaos and losing value. Is there an option to have the 401K just hold cash or some other zero risk option? submitted by /u/speedxter

What should I Do with my bonus to accelerate my debt pay offs I have accrued up debts of $10,000+ in debts over the last few years and I am striving to be debt free by the end of the year. I received a substantial bonus of $2500 this last check. I am wondering what is the smartest move. I have a car loan that I owe around $2500 on with 7% interest. I pay $260 a month right now for that. The rest of my debt…

Alzheimer’s Diagnosis A family member of mine with early on-set Alzheimer’s inherited $70k inheritance. What type of bank account would be the best place for the money? submitted by /u/North-Emphasis7980

Transferring to a foreign bank account American here. Given the impending economic insecurity, I’ve been contemplating transferring my savings to a foreign bank account and leaving it there for the foreseeable future. My two questions are: 1: Any general thoughts (pros/cons)? 2: Any preliminary suggestions for which banks to use? submitted by /u/zedazeni

How much do auditors prick you about HSA eligibility for miscellaneous items? For instance, my wife recently tore her tendon in her thumb. Obviously the surgery is all HSA elgible but we bought an $8 grip strengthener recommended by her PT. We don’t have a note or anything for it (could get one but honestly not worth the hassle at this point) but at the end of the day it’s $8. Would an auditor really give me a hard time o…

Budgeting Suggestions Hey everyone. I was looking for assistance in regards to getting a better hold on budgeting. My wife and I get paid bi-weekly, but get paid on opposite weeks. Therefore, we have a paycheck coming in at the end of every week. I have been separating the bills and paying them on the 1st and the 15th in regards to how they fall within the month. In…

My mom inherited money but she is homeless Homeless, inherited 230k. What should I do? Hi all. My mother is on ssi and has received 205k she doesn’t own a home and has two dogs, She wanted to start a business but she had multiple personality disorder and has a million different ideas. What should her first course of action be for this money? Housing or where to invest her money as well? …

Contribute over match or go taxable for non-U.S. citizen? I’m 30, non-U.S. citizen residing in the U.S. on working visa. I do have emergency fund savings but have 0$ for retirement. I started maxing my HSA contribution and thinking about starting my 401k this year. The company contributes 4% for my 5%, but considers me Highly Compensated Employee (HCE) and limits match to $4000 annually. The match ves…

Pay off undergrad debt or invest? Hello! I’m currently married in my early 20s and in my senior year of undergrad getting ready to apply to medical school. Quick run down: We have about $2k leftover per month to go towards our financial future/goals. Our emergency fund in our HYSA is at about $5.5k and we want to get that to our target of $12k ASAP. We have $20k in Roth IRAs s…

Tax withholding as a 1 income household I’m a SAHM and my husband is the sole income earner for our family. This has tapered over the last several years, I worked full time, then part time, then rarely, now not at all since we have more kids and he is making more money. This year we got a return of 11k when we filed. It’s gone up a little every year, but this is the biggest return ye…

1099 from surrendered whole life insurance policy submitted by /u/Automatic_Repeat_387

Received refund from urgent care clinic I received a check for $30 in the mail from CityMD and deposited it into my checking account earlier today. Nothing seems fishy about the check but I’m wondering if I should have verified with the clinic if it was legitimate before depositing. The check is made out to me and my usual copay is $30 but I’m not sure what the refund could possibly b…

Worked a side hustle online, made 3K paid thru paypal, paid quarterly taxes, was told I would get tax docs from paypal but since I didn’t make 5K I haven’t, what do I do? I withheld taxes from all of my earnings and paid quarterly taxes. I also work a normal w2 job, unrelated. From the company and others on forums, I learned I would receive my tax docs from paypal (one of the 1099s), but i didn’t meet the 5k threshold from paypal so I didn’t. What do I need to do? Just put what I earned without having the documen…

Received 1099-NEC but never worked for the company Hi all! I received a 1099-NEC from X Corp. Weird thing is, I never worked or did any work for them. I don’t have the X app at all. It is a legitimate 1099-NEC form, with non-employee compensation of $23.83 (which I never received). Is someone or X using my info? submitted by /u/Adventurous-Emu-3634

Dependent Care Recurring Reimbursement Request Can we submit a recurring dependent care FSA request for the full $5,000 right away, but of course we’d only get actually reimbursed throughout the year as money is withheld from the paycheck to fund that account? We’ll easily have over $5,000 in expenses in 2025. Side note: It’s my understanding it’s on us if anything changes that would affect…