What should i expect to pay in taxes for my wildfire victim settlement? I received $60,000 in damages for a wildfire that destroyed my home in CA. $21,000 went to my lawyers. How much should I expect to pay in taxes on the remaining $39,000 that I received? submitted by /u/BugBirgade

I have 2 credit cards that I have been unable to pay off for quite some time I have the opportunity to pay them both off. I have 2 credit cards that have been in collections for the past 5 years due to financial woes. They are nothing crazy both totaling about $1,050. I have the opportunity to pay those cards off and im looking to fix my credit and get it up as high as it can go since I’m now financially stable and responsible. I still don’t have a crazy amount in …

Mortgage or pay cash? Personal finance advice needed. I am moving from a Midwest town to Austin in a few months because of my job. I want to buy a house in Austin and the house I like is of about $500000. I have about $150,000 in cash in my savings account and about $200,000 in stocks in Robinhood (where I have stupid stocks, this account is in huge loss). I also hav…

Pay off 90k mortgage? Does it make sense to pay off a 90k mortgage with an adjustable rate of 6-7% with chance of it going up? Or put it in the SP500 and ride for 10-20 years to cancel out the interest? submitted by /u/hand1esel

Pay rate comparisons Would it be more beneficial to make $70/hour on a contract w2 or $95/hour on a 1099? submitted by /u/Acrobatic_Coyote_792

Sell all and buy VOO or pay off mortgage? Hello! This is not a typical rate-my-portfolio post. During Covid, we obviously made some really bad investments, many of which will never really recover. Looking for some ideas to get out of this situation by selling everything and buying VOO and/or paying off mortgage (6% interest). Total invested: $93,218.80 Current market value: $82,018.81 L…

When Do You HAVE To Pay Taxes On A Roth Conversion? I just spent many hours researching this. You pay the estimated taxes on the conversion in the quarter that it is done, but you might not HAVE to. I can convert in 2024 and pay the taxes April 15th 2025. If you’re interested in knowing what you can do, keep reading. There’s a chart on page 20 of the IRS publication “About Publication 505, Tax Wi…

Typical should I pay off my house early? I just purchased a new home for $223,000 with 20% down. My mortgage including taxes and insurance is $1264 per month. The interest rate is 4.5% and is a 30 year mortgage. I invest 15% into my Roth 401k and max out my Roth IRA each year& HSA. I have about $500 left over for savings/investing. Should I drop that $500 into the mortgage every month?…

Should I pay off mortgage 55 yr old, owe 75k on home, no other debt, 17percent going to 401k and Roth, make 100k per year, mtg rate 2.75, have cash in bank for emergency, scared I have not saved enough in 401k at 103k other savings of 80k in Ira’s and stock submitted by /u/Tankietot1

Should I pay to fix my car? I have a 2013 Nissan Altima that I’ve owned since 2015. Just found out the transmission needs to be replaced, no other issues that I’m aware of. Cost to replace the transmission is $5,500 which is about what the value of the car is. I neither want to put that much into a car worth so little, nor do I want to buy a new car (or a new used car) but…

Should we pay off our house this fast? Hello, My wife and I just bought a house for 432k with a 15 year 100k mortgage at 6.99% We’re going to put another 70k against principal this month which would leave us with 30k principal. Monthly take home pay after taxes is 12k. No debt and an emergency fund of 8k. Should we strive to pay off the home in less than a year? I like the idea of be…

I will pay your Shopify Advanced subscription I’m exploring investment opportunities and have been using Shopify for quite some time. I’m on the lookout for interesting projects to invest in. If you’re interested, shoot me a DM and lets chat. I’m willing to cover your Shopify Advanced plan ($5K/year) submitted by /u/RippedRich

The Stay-or-Pay Clause That Demands You Pay to Quit Your Job Some U.S. businesses are forcing workers to sign contracts that demand steep “reimbursements” if they leave.

Any reason NOT to pay off student loans in full now that I can? I have 63k in student loan debt. Now that interest has kicked back in, I am thinking of just biting the bullet and paying them all off immediately to avoid further interest (my loans are ~7% interest rate). I don’t have any higher priority items from the flowchart (I have emergency fund, no cc debt, not saving for house, etc). I don’t think I h…

Loan officer is asking to allow title company to pay off $25k auto loan, is it risky to give them the funds to pay it off? Loan officer is asking to pay off $25k auto loan to qualify for a mortgage, but is wanting me to pay it off at closing. That means giving the funds to a title company that will then send the payment for me. Is this too risky? Or should I ask to pay it off through my mobile app? Due to close in 3 days. submitted by /u/Muab_D1b

My company is having me “repay” severance pay. I was recently laid off and received a severance package. Part of that package is 6 weeks pay. However, if I am rehired, the package states that I may be required to pay a portion of the severance pay back. I called HR to clarity this, but they do not know exactly what this means. They gave me an internal email to email who will be able to answe…

Does it make sense to pay off my 5k CC debt at once and then just pay myself back? Quick overview: I owe about 5k between two credit cards, both at roughly 20-25% APR. I also have about 30k sitting in a money market earning about 5.2% which is my fund for my next house down payment. Would it make sense to just pull most of that from the money market, pay the cards off, and then just basically set up a payment plan back to myse…

Pay Student Loans or Save Money i realized all my loan interest rates are lower than some savings account rates (i.e. Wealthfront @ 5%). does it make sense to pay the absolute lowest monthly payment and any money i was putting into loans to just put them into the savings account? it makes sense in my head but not sure if this is a thing. theoretically i guess it ends when my…

Should I pay off my student loans ASAP? I currently have 24k in student loans at a 3.4% interest rate. I have 6 months expenses saved and a I have a modest amount in my roth IRA. I have about 2K per month that I can save/invest but Im wondering if I should pay the minimum payment ($300) or put it all towards the debt submitted by /u/Pwood94

I get paid for holidays, but my employer accounts for them as “Sick Pay” on my pay stub. Does this matter at all? I work an hourly job that guarantees a minimum number of hours per week. It is school related. Whenever the schools are closed (holidays, snow days, etc.) I still get paid. Although there is a line item for “Paid Time Off” on my pay stub, my employer is marking these non-working days as “Sick Pay”. I used to work a corporate cubicle job an…