28yo – $4200 post tax monthly income 28yo. $4200 post tax income 1st time posting so please give grace. I currently live with my parents rent free. I pay for my groceries, clothes, everything I need as far as personal needs go. My car is paid off. 2012 Honda Civic. I have over $30k saved. Dad pays phone bill. Family plan. I pay for the phone itself. I am looking to move out and r…

How should I split my income to be a better saver? I am 23M and have ALWAYS struggled to save money. This has been a problem for way too long and I’m ready to make a change. I want to set myself up for the future and I’d like to talk with my parents about how to save because they are very well off and are great at saving but whenever I bring this up to them it evolves into a very large argument,…

401k or Roth 401k? High but variable income I am new (and late) to thinking of financial planning and taking personal finance seriously. I enrolled into my company 401k plan 5 1/2 years ago and haven’t really thought much about it until now. My company matches up to 3% and offers a 401k and Roth 401k option. I have personal savings but aside from this 401k I have no other retirement or i…

Just a 20% Tax Penalty & Income Tax? – The HSA Withdraw So, let’s say something wild or urgent comes up. Water heater breaks or furnace goes out in winter, pet gets sick, etc. You’re paycheck-to-paycheck, or money is at least tight, at the moment, because you just got everything caught back up… but that means your bank account is basically at $0 for the next 2 – 4 weeks. You have an HSA with $2k. …

Seeking advice on limited income. 27m on SSDI. Very grateful to be living with family. They don’t need the help but I handle my bills and chip in. Monthly: SSDI: $2075 a month. Car payment: $360 at 7% interest ($19700 car loan) Car insurance: $166. Monthly savings/brokerage: $1000 Phone:$60 Food varies but I do fine. Assets: $15k in S&P 500 (Webull) $6k hysa I am aware I…

Should we put 50%+ down on a house? Modest income Husband just retired, gets $1500/mo social security. Between his side hustle and my sporadic modest income, we also bring in $3000/mo average. So total income is $4500/mo. Paying over $3000/mo rent now. For security’s sake, we’d like to buy a house and only spend up to $1500/mo on mortgage instead of renting for twice that. We have $300K savings…

Spouse Low Income Year My spouse lost their job this year and as a result made much less that prior years. I just wanted to see if anyone has advice on how to play it. They still managed to cap 401k & employer match once they got a new job by basically taking home $0 for each remaining paycheck. Annual income allows for deposits to traditional IRA – is this the move?…

K-12 Private School % of Income What percentage of annual income is reasonable for kids private school tuition? Also curious what financial aid folks look at when they are making a determination. This doesn’t include everything or add up to 100%, but just to get a sense for how things compare percentage-wise: 20% – private school tuition for 2 kids (does not include childcar…

Roth recharacterization question if over income threshold? Hello everyone, Appreciate everyone’s insights into this issue and I have done a thorough search (on reddit and elsewhere!) without a clear answer to this and I’m hoping this can help folks down the road as well! Situation: Married filing jointly. Start of 2023 I thought based on our household income we would be close but not over the 230,000 MA…

Is spending 70 percent of net income on rent ever acceptable? I’m in the process of a divorce and will be taking full custody of my children (she’s leaving the country). In order to minimize life disruptions for my children and I, I’d like to stay in our current home at least until our they complete school in 4 years. However, my income vs expenses are concerning me. I’d like to get feedback from people as…

Technique to track income/expenses I have been trying different ways to track my finance: different apps, bank-provided analytics and now a Python script and an Excel spreadsheet. My problem is that transactions are not isolated and have to be considered in relation to others. What I mean is this, for example: you go out with your friends, you pay the bill $100, but they pay you…

60k Profit Pre-Tax Side Income: Unsure What To Do Hi there! I hope you’re doing well. About 8 months ago, I decided to start a test prep business. It’s been going to decent. Likely by the end of the year, I will have a profit of 60-70k (depending on how much I decide to pursue College Essays). My day job is in Consulting, which does pay for my living, costs, investments, and really everything. …

Is It Silicon Valley’s Job to Make Guaranteed Income a Reality? The tech community, led by Sam Altman of OpenAI, has funded programs that give people unconditional cash. Some say it’s time to scale up.

Order of investments-one income Our income is going to be changing in early August (going from $232340 gross to $162340 gross), and our mortgage will be going from 20% to 30% of our gross income for anywhere from 6-8 months this is due to a slew of medical related issues. This equates to around $5856/month Net, which is a bit tight for now, but we can adjust costs where need b…

Forgot to pay tax on interest income. I work a 40-hour job and receive a W2. I also have some cash in a high-yield online savings account that made about $2K in interest last year. Only thing is I think I forgot to report the exact amount of interest and only clicked “yes” that I received interest when filing with TurboTax. I don’t remember ever receiving a 1099 form from the online…

Advice on New Income I’ll keep it short. I’m in my 40’s. No retirement (Roth IRA is empty.) About $20k in savings. $5k in the stock market. No debt except my mortgage. Just got a new job that pays significantly more than my old one. Went from bringing in ~$40k a year to $120K. After decades of living below my means, I have more money than I know what to do with. Wh…

Colorado Lease Renewal/Income Requirements So My lease renewal is coming up. Previously I had a roommate sign with me. However, roommate left and does not appear to want to renew. My leasing office stated that I need to prove income of 1,910.00$ to renew by myself. My last two paystubs have gross income of 954.08+963.84=$1,917.92. Even if I am just over the limit is it worth bringing the…

I need to increase my income I’m 33, I was homeschooled (no highschool transcripts). I worked my way up to operations manager within a small company, and that’s as high as I can go. I was a SAHM for 11 years, so I have a huge gap in my employment. I make $23.50/hr. 4 paid holidays a year. Two weeks PTO (for vacations and illness). 3% matching simple IRA. $1200 FSA. I want m…

Suggestions to leverage my income Hello, all. Just search for advice on how to take the money I have a leverage it by at least 2x in the next year and a half. Just a little insight: I’m a 28 year old veteran that makes income from disability and being a full time online student. I have a part time job, and I just received a settlement of around $12,000. My expenses are tallied a…

Low income trying to plan for the future. I’m 27M and spent from 15 to 23 homeless or couch hopping. Within the past few years I’ve managed to get into school, find stable housing, and reconnect with my family. I have taken on some debt for school but have been able to pay for most of it either out of pocket or through grants and scholarships up to this point. Recently I transfered scho…