#7k

Can I contribute $7k to IRA if I just started my job and have not been paid?

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Can I contribute $7k to IRA if I just started my job and have not been paid? I just started a summer job a couple weeks ago and waiting for my 1st paycheck. I expect to earn at least $7k by the end of the calendar year. Can I simply contribute $7k to my IRA right now? Or do I have to wait until I have officially earned $7k of income? submitted by /u/Critical-Dreamer

Reddit Personal Finance 527 2024-07-19

I’ve got 7k left of student loans left at 3.76% IR. In this economy is it sensible to make minimum payments on this loan and invest excess money into the market?

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I’ve got 7k left of student loans left at 3.76% IR. In this economy is it sensible to make minimum payments on this loan and invest excess money into the market? Is this a good strategy or is it better to pay off these remaining loans ASAP? I’ve paid off 43k of 50k in loans already, not sure if I’d be better off investing and using the cheap liquidity to buy S&P 500 while I’m relatively young at 27 y/o submitted by /u/treesandleaves01

Reddit Personal Finance 501 2024-07-16

I’m over the roth IRA income limit and already contributed $7k for 2024, how do I back door roth?

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I’m over the roth IRA income limit and already contributed $7k for 2024, how do I back door roth? Recently, my (non roth) investment have pushed me over the income limit for Roth IRA, and I already contribute $7k for 2024. assume My investment don’t plummet for the rest of the year, What’s my best course of action to minimize tax? I’m thinking withdraw $7k from Roth IRA. Then contribute $7k to trad IRA and do back door roth conversion. does …

Reddit Personal Finance 1.2k 2024-06-14

Japan vs Thailand vs Vietnam for 2 people 2 weeks from $7k budget?

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Japan vs Thailand vs Vietnam for 2 people 2 weeks from $7k budget? Hello, Please help us (me & my wife in their 30s) decide where to go next as we are unable to decide. All these places look magical and super interesting. A few notes: – $7k should include the travel as well (it’s ~$2k for the plane tickets) – We love new things, and we love to explore – We just hate all-in-one tours with other tourists – Usuall…

Reddit Travel 642 2024-05-26

Japan vs Thailand vs Vietnam for 2 people 2 weeks from $7k budget?

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Japan vs Thailand vs Vietnam for 2 people 2 weeks from $7k budget? Hello, Please help us (me & my wife in their 30s) decide where to go next as we are unable to decide. All these places look magical and super interesting. A few notes: – $7k should include the travel as well (it’s ~$2k for the plane tickets) – We love new things, and we love to explore – We just hate all-in-one tours with other tourists – Usuall…

Reddit Travel 1.1k 2024-05-26

I have 7k in savings but in debt and want to change career, what should i do?

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I have 7k in savings but in debt and want to change career, what should i do? So previously I went towards a blue collar school so that my dad could stop harassing me on not going to school. After graduating I later realized i hate doing physical manual work. (not the right fit for me) I later figured I have the dying interest for data science . I saved a couple of dollars in while working at my old previous blue collar j…

Reddit Personal Finance 1.1k 2024-04-20

Broke my lease in an uninhabitable apartment and now being chased for debt of $7K

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Broke my lease in an uninhabitable apartment and now being chased for debt of $7K A few years ago, I lived in an artsy loft-type apartment complex in Brooklyn and while it was fun for a while, it became an impossible place to live. There are several reasons why it was uninhabitable, such as mold on the walls, insect infestation, and fire hazards… but the main reason was due to a persistent leak in my bedroom. My roommate and …

Reddit Personal Finance 1.0k 2024-03-17

being sued for 7k in credit card debt, need help with next steps.

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being sued for 7k in credit card debt, need help with next steps. midland credit is suing me for 7k in credit card debt. an “order regarding alternate service” was left at an address for me. so from my understanding, i haven’t been served, but they are trying to locate me to serve me. i really just want to get this over with. i was focused on paying other debts first but i guess i’ll move this to the top of …

Reddit Personal Finance 1.1k 2024-03-05

Is it normal to have $1.4k taken out of your $3.7k federal monthly salary?

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Is it normal to have $1.4k taken out of your $3.7k federal monthly salary? I’m dating someone who has been working a low level job in an American government agency for a year. They get paid twice a month. The gross bi-weekly payment is around 1.8k, but their net bi-weekly payment is 1.1k. From what I understand, basically every month they have 1.4k taken out of their paycheck for taxes (income, medicare, and social sec…

Reddit Personal Finance 1.1k 2024-01-29

Car needs 8k in repairs, still owe 7k on it.

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Car needs 8k in repairs, still owe 7k on it. I have a 2015 Hyundai Tucson and the engine seized a couple weeks ago, the dealership is trying to get a new engine approved through the warranty but as of right now they don’t know its chances of approval so I’m planning on the worst seeing that I don’t have extensive oil change records since it was being changed at home up until last year. Tho…

Reddit Personal Finance 1.2k 2024-01-21

7K in debt making $2000ish a month.

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7K in debt making $2000ish a month. Ok so. I have roughly 7k in debt across 4 different cards that due to some events (partner was unexpectedly fired) i am not able to pay. Cap1 Quicksilver – $1800 (we use this card for rent every month so we can pay rent off slowly) Cap1 Platinum – $300 Chase Freedom – $1500 Apple Card – $2800 My rent is roughly $1800 a month after water and elec…

Reddit Personal Finance 1.3k 2024-01-06

$6.7k CC debt with $7.4k emergency fund

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$6.7k CC debt with $7.4k emergency fund I’m in a position where I could pay off my credit card debt in one lump sum with my emergency fund. I currently have 6.7k on a discover card at 5.99% APR. My emergency fund is in a HYSA at 4.4%. It makes me nervous to almost completely deplete my emergency fund to pay off the cc debt but from everything I’ve learned on this sub, it’s likely the…

Reddit Personal Finance 514 2023-11-05

Paying off 7k in back child support while not destroying my savings….

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Paying off 7k in back child support while not destroying my savings…. I owe 7k in back child support. To preface, I am not the guy that doesn’t pay back child support regularly. The custodial parent did not have it set-up correctly with the state and it has just now been set-up. In other words, I was not able to pay any of this until now because it was not set-up. I want to pay it all off ASAP. My finances have be…

Reddit Personal Finance 486 2023-10-15

Freshmen college student with 7k worth of CC debt. Can’t afford min payments.

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Freshmen college student with 7k worth of CC debt. Can’t afford min payments. Im a freshmen in college Im 22 never thought I would be back in college but I felt like it was time this year and decided to go back to school for my BSN im in a community college at the moment for smaller tuition and will be transferring once I get my scholarships back that I lost while being depressed first year of college back in 2019. I got …

Reddit Personal Finance 148 2023-09-01

Should I spend my $7k savings on reducing my student loans before repayment begins?

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Should I spend my $7k savings on reducing my student loans before repayment begins? So I have about 30k left on my student loans, and am on a repayment plan that would have me pay $1,300 a month once payments restart. While I have an okay job, it’s a lot more than expected (because I’m married to someone who makes more than I do) and I’m not sure I can do it on my income (since my husband and I have separate finances) consideri…

Reddit Personal Finance 130 2023-08-22