Can I pay back a 401k loan after a decade? I took a loan against my 401k almost a decade ago but then had a health event that precipitated a financial timebomb. Looking back to this now and wondering if I would be able to pay that loan back. I’ve seen some limited commentary about ‘plan specific’ rules’ determining payback, but this seems to be an outlier. Is the health event a unique fa…

Unique 1099-R use-case, can’t get good advice because nobody knows Last year I did a direct rollover from an old Solo 401k plan into a new one. Pre-tax funds went into pre-tax, Roth funds went into Roth. So I need to file two forms 1099-R one for each rollover, but no tax is due. What I’m not clear on is if boxes 5, 10 or 11 need to be filled (and as a result, form 5329). The 401k had some funds that were origi…

Discovered dad owes IRS money, hasn’t filed in years, lien on house – how can I limit mom’s exposure and do I help him get out of this mess? I’ve just found out my dad is in a deep financial and tax hole. Owes the IRS ~$200k+ in taxes dating back to the 2000s, he hasnt filed (or paid) in years, and apparently there’s a lien placed on the house that is paid off (by my mother of course since he is so financially inept) He’s nearing 70, has a ton of medical issues, 0 savings, ton of cre…

tale as old as time y’all, medical debt. ER bills: 2623 this amount is from years of neglect some are very old and some are from like some time in 2023 – sent to collections. this is the biggest one. these guys have been harassing me for years. lab tests: 457.54 – sent to collections. these are from my PCP, i thought i paid these off. i have been adamant about paying off my bills to m…

Best short term investment for $10-15k? In a few weeks I will be receiving $20k in an inheritance. I plan to use approx $5k for medical reasons, catching up on bills etc. I might put some toward a car. The rest I plan to put aside to grow. But I have no idea where to put it. Shares? Term deposit ? Context: 35 F, Australian, employed but no savings and living paycheque to paycheque. …

Worth it to pay down a mortgage to remove PMI and acquire a HELOC? For context, my current loan balance is $485,000 and I pay 2.99%. To remove the PMI of $90/month, I would need to drop my loan balance to $435,000 ($50k towards principle.) Here is how I worked the math, and I would appreciate if anybody could shine some light as to why I should/shouldn’t do this. – Dropping the principle by $50k would reduce my…

Relocating for job offer, sell or rent or? Worried about pulling out of the market. I’m looking for some advice on a big decision my wife and I are facing. I recently accepted an offer for my dream job, which requires us to relocate from AZ to WA (she works remote). The base pay raise (33%) essentially covers COL increase (not including bonuses or RSUs), but we’re trying to figure out the best long term financial move. Here’s t…

Uhh. DoE/FSA never told me about overpayment and now my score tanked. Possible goodwill adjustment? submitted by /u/wellknownfloatything

Would you pay off car note knowing there’s a large expense coming soon? I have $13k left on a 3.25% car note. Going to clear around 10k after taxes from RSUs in a few weeks. My head says dont dont do it since i have a low rate but im gearing up for a $400/month payment for preschool come September. Can i afford both, yes but ive always had an issue with paying down a depreciating asset. More context … Cash flow wi…

Statute-Barred Debt UK Hi, I paid off a statute barred debt as at the time I was very young and was unaware the debt was Statute-Barred. Will I be able to get this money back? As I have to borrow the money from another person submitted by /u/Jaded_Cheesecake3312

23 year old looking for financial planning advice I will be starting my first job soon. Pays 180k/year. No debt. I know it is fairly privilleged to be in this position, and I dont want to ruin it ahead. I have read most of the wiki here and got a decent idea about taxes, investing, etc. I calculated and roughly i will have 10k/month after taxes. I plan to save 50-70% of my income. Obviously the…

Capital One just charged off my debt, what now? A little over $6k. Due to multiple serious car repairs in a row, and me working with schools and having a month 1/2 of no work over the holidays, I was unable to pay this card. I am working again and went to make a payment, saw they charged off the debt. No voicemails, no emails, nothing in my mail. I checked my app earlier this week and it show…

I think I’ve been underpaid and idk what to do I’m a student working a part time job at a supermarket, it’s taken a while for me to get stuff like a clock in pass etc… which concerned me at first but my manager said he was sorting it and sending my hours in manually, but I’ve been tracking them myself too. The amount I’m getting paid literally only takes me up to the 5th of January from what…

Higher wage reported on w2 Hi Initially i got an offer to join my employer in mid January but position was kept on hold. After 2 months I was again offered the position. Say, I joined a company in mid March with a new offer letter . In my first paystub for March, along with salary I could see YTD has higher than wage received. When I brought this to HR notice they told i…

19, curious about what to do with college refund Hello! I just started my sophomore year of college; for Fall 2024, I received a refund amounting to nearly $6,000. No strings attached, no “pay it back later”, as I already checked with my financial aid office. For someone at my age (who is relatively inexperienced with finance), what would be the best course of action for these funds? I’m wanti…

Is it appropriate to use my savings for a vacation as a 17 y/o? I recently started working, about two months ago, and I have been saving 50% of all money I get and putting the rest in my spending account which has about $600. I want to go on vacation this summer, which will cost me about 2k. Right now I have $700 in my savings and I was just wondering if that’s an appropriate use? Honestly any advice for how…

Any reasons to NOT transfer my 401(k)s from previous employers? I’d be transferring them to my individual account at Fidelity. I know they have limited investment choices and usually upkeep charges staying. Any benefits to keeping them as they are? submitted by /u/dancingpianofairy

Debt Payoff Order Snowball or Highest Interest Currently owe: $6200 @ 4.6% min payment $100/mo Federal Student loan $6200 @ 6.3% no min payment, this is a limited partnership, I get paid $70/mo that goes straight to loan and two additional payments a year usually between $500-$1000 per payment, again goes straight to loan $23000 @ 6.99% min payment $400/mo car loan Typically have $2k lefto…

Taxes, Filing Married I need some advice, Im in the state of California and im ready to file my taxes. My Husband and I got married in Jan 23 2024 and this year were filing as married we both have two children together Question is, He made 75k and i made 28k Our total is 104k our return would be 1,700 with both our children. If makes more should we file separately? W…

Advice Needed: Renting vs Selling Home Before Temporary Move Abroad We’re planning to move temporarily out of the U.S. for a few years. I have a house here with a market value of $800k and equity of $600k. I’m torn between renting it out or selling it. If we decide to rent, we don’t have anyone here to manage the property, and I’m unsure how tenants might react once they learn we’re out of the country. Additiona…