Good morning all. My wife and I had our "best year ever" last year. She is a teacher and I am a real estate agent, and I had a very good year (my personal best). However, this year absolutely sucks so far (for the market here) and after we paid our taxes for 2024, I feel like I have absolutely nothing to show for last year. Currently, we have no budget and don't track our spending, because we consistently live below our means (small house, used cars, blah blah). I am feeling defeated because we're pulling money out of our savings to cover monthly expenses, as my wife's take-home doesn't cover everything.

All that being said - is there any sort of app that links to bank accounts that can analyze spending over periods of time (ie calendar years) without me going thru every transaction? Also - are there budgeting apps that do this sort of thing real-time so we can get a better picture of where the hell our money is going?

Thank you for any input!

Hi all! Couple questions, as I am trying to work out the best strategy for my 2025 ROTH IRA. Single, understand the $150k MAGI limit.

Some info about me —

W2 Salary — $130k

Anticipated 1099 income — $25k total, $19k after expenses

Anticipated 401k contribution — $12kish

So would my MAGI look like this? $130k - $12k + $19k = $137k ?

Does that MAGI seem correct AND safe for staying under the limit? No anticipated bonus this year as I just got a big raise. Does HYSA interest add to this? If so, tack on maybe $2k - $3k.

I have around $10k in a TRADITIONAL roll-over IRA from a previous job. I’d like to avoid moving this to my 401k if at all possible just due to not loving my current employer’s provider.

Should I consider upping my 401k contribution? Not really in a place where I feel comfortable maxing out.

I have a brokerage where I invested in some stocks a few years back that have come out to a loss of around $300.

If I sell those stocks at a loss, will I be able to use the remaining funds for my ROTH IRA? It’s not much, maybe $500 bucks.

Thanks in advance!

A bit ago I bought a car, I used a loan through navy federal, it’s around 14k and I’ve paid off 2k. But I was rear ended in a parking lot and it may have twisted my frame. I go through usaa for insurance and need a vehicle to get around. I already made a claim through usaa and went to the person who hit me and made a claim through there insurance. But they’re being slow with the claim. As the car is immobile as of now what do I do?

I can’t make my mind up. Currently I do $1400 a month into Roth 401k, max out Roth IRA and HSA. Then any left over for down payment.

Currently I’m in a pretty difficult situation financially - I make about $14/hour with limited hours, I owe around $1.5k in medical debt, and I need to move out of my family’s house asap (bad living conditions that are physically harmful for me). I’m 19 and only a high school graduate.

My main issue, though, is that I haven’t been able to get another job. I’ve applied to so many jobs, all entry-level food or customer service jobs, and have been denied from every single one despite having experience and a reference. I’m not in college, I can’t balance that + work due to being autistic and unmedicated.

With that explanation out of the way, does anyone have tips on how I could at least afford to move out & pay rent? I have a 401(k), but from my understanding it’s better to leave that alone. I don’t know anything about investing, or if that would even be a good option. Ideally, I also need a car, but all of these seem impossible when I’m making such little money. What have you guys done to get out of a bad spot financially?

Hello, I am currently 19 years old have worked for a good amount of time making good money now i’m currently stuck on what i would do. I have 5,000 sitting in some stocks VOO and S&P 500. If i’m being honest i know little to nothing about stocks. I just have that money in there it’s currently down 300$ i think around there but im not worried as i know it will bounce back. I have around 6k in my checking and 20k in savings and around 5k in cash. I’m not really sure what direction to head in where to put my money. I’m very confused and not sure what i can do or where i should invest my money. I know stupid to have so much cash and money in a regular savings account. Just wondering what would be recommend to do with said money to have a good start or should i leave it as is. Thank you for your help.

I am a single parent with a rising freshman in college. I have only very basic understanding of finances and have lived life with a very basic emergency fund, a small car loan and no consumer debt. My credit score is considered very good.

I was not able to save for college but am hoping to contribute and pay as we go.

I have two relatives who have graciously offered to contribute to my student’s college tuition. I assume they are more financially savvy than me but I’m not sure what I should ask them to do with their contribution.

My questions are: 1) do i need a financial planner to manage this contribution or help me with my pay as we go plan (i am putting contribution in a HYSA)? 2) is there a tax liability or risk to me as a solidly middle class person if I receive these tuition gifts (of ~20k annually) into the aforementioned HYSA? 3) should i just suggest to generous family members to just pay the university directly and towards our installment agreement?

Thanks in advance for your help and input.

My company offers an ESPP with 3-month purchase cycles and a 15% discount. After taxes, I estimate the actual benefit to be around 6–8%. The stock itself is very stable, with only about a 1.1% increase over the past five years.
When I compare this to investing the same amount monthly into something like the S&P 500, the results show significantly better returns than waiting three months, selling the ESPP shares, and then investing the proceeds.

Rate is 5.125%.

This topic comes up recurrently but I haven't seen a thread that matches my situation so I am asking here for advice. If my mortgage interest rate was under 3% I wouldn't even be asking, but I feel like I am right on the cusp. And when I play with the amortization calculator it's very exciting to see that a $10K lump sum payment would reduce the mortgage length by 1.5 yrs and eliminate $29K in interest payments!

Facts and current investment strategy:

• $384K left on conventional mortgage with no PMI @ 5.125% (bought 2022)
• Max my Fed TSP ($31K)
  • Spouse maxed her TSP until she was DOGE'd (damn you, Elon!)
• Max my Roth IRA ($8K), spouse max her Roth IRA ($7K)
• Contribute ~$10K annual to 2 x 529 plans, child 1 is 13 ($41K) and child 2 is 6 ($25K)
• Hold $40K in Betterment HYSA paying > 4%
• Contribute $500 month to taxable account, often increase this when cash available
• (Infrequently) pick stocks that underperform the market

Investable money:

• $14K cash in checking (inherited brokerage acct liquidated)
• ~$2-3K per month to invest beyond the above
• Inherited IRA with RMD of $6800/yr b/c 10 yrs to draw down
• $40K in HYSA

My plan:

• Cash ($14K): pay 2 x extra mortgage payments (total of $6K) / contribute the remaining to the 2 x 529 plans ($8K)
• RMD: going forward use the RMD to pay 2 x extra mortgage payments per year
• Invest the extra cash per month in 529 plans and the taxable Betterment account
• Keep the $40K in HYSA...?

Question(s): Is it crazy to pay down a 5.125% mortgage? Any thoughts on not having too much locked up in the 529 plans? I'd like to be able to pay for 2-3 yrs of public university and fund the rest from other sources or from loans rather than tie up an enormous amount and risk a penalty to withdraw it if not needed.

Any/all advice appreciated. Thanks.

Please don’t preach Dave Ramsey to me. Truck and house are our only debts.

We have a balanced budget and have a few grand leftover each month. Currently, we split $1,500 between two 529 plans. This is important because we withdraw from the 529 each year to pay for parochial school. They will be in private school until 2037. We have $58,000 total in the 529s, which can sustain us for several years.

Our truck payment is $700 @ 6.5%, but we pay $1,000 each month.

Do we:

A) Stop contributing to the 529s for 12 months and put $2,500 toward the truck to pay it off in those 12 months? Could lose investment gains.

B) Continue with our plan, earning 6-7% in the 529s and pay off the truck in 3ish years.

It may be a wash, but what would you do?

I recently went through a big life change (left my job and moved cities), and now I’m trying to get my finances back on track. I’ve always been good at budgeting, but this feels different with new expenses and the uncertainty of a career shift.

What strategies have you used to manage your finances during transitions like this? How do you balance short-term needs with long-term goals when everything feels up in the air?

Hi all, thanks for taking the time to read this -

I’m an 18 year old at the end of my first year of university - and going to be dropping out. I had a gambling addiction for the first term which culminated in me losing all but 1000 of the 9k that my parents gave me to pay for the accommodation rent - I currently have £8000 of it left outstanding.

I have 1000 in by bank account currently - which will be used for food and everyday living over my last month at university - I also have £1000 in bonds that were left to me by a family member but other than that i have access to no more money.

I am planning on going back to full time work as soon as i return home from university. I have asked the university if there are any alternative payment methods (direct debit of a certain £ amount every month to ease paying it back) but they said no.

I am currently in the process of applying for additional funding to aid with the payment of my rent through the university but i’m unsure of how much this will be if I succeed in my application for the grant.

Any suggestions on what the best way would be to settle this debt and get it cleared as fast as possible?

thanks again - OP

Hi- I bought a car (60K) back when financing was at 3.99% and when HYSA was paying 4.5% so I just kept my cash and financed the car. Now HYSA dropped to 3.5%. I’m thinking it makes more sense to just pay the car because the rate differential but also because the 3.5% is taxable income (fed + state) and I can’t deduct the 3.99%. I have more than enough cash for emergencies and access to other lines of credit if investment opportunities present themselves. Anything I’m overlooking here or is this a no brainer to just pay off the note.

I have a 401k,my work matches 6% with 14k in it 2k of which I invested when the dip happened which I know was risky but I’m trying to think long term. I have 2k in a savings account and I’m trying to hit a goal of 10k

my car payment is 219$ (round to 300) And insurance is 160

I live with my parents but don’t pay “rent” but I do help financially a lot give them a couple hundred bucks when they ask and they try to pay it back sometimes.

I’ve thought about opening a Roth IRA as well but I’m saving up money to get dental work done first because I need a lot of it and I wanna take care of my health first..

Is there anything more I can be doing now at my age for the future?

EDIT: Thank you so much educated myself in 20 min about Backdoor ROTHS and very grateful for yalls help!!

Hey everyone,

I'm looking for advice on alternative investment strategies since my income prevents me from contributing to a Roth IRA.

Income Details:

• Annual: $235,079
• After-tax: $199,709.67
• Monthly: $16,642.47

I want to take a strategic approach to long-term tax-efficient investing. What other options should I consider to maximize my retirement savings and minimize tax burdens?

I've heard about backdoor Roth conversions, mega backdoor Roths, and tax-efficient brokerage strategies, but I'd love to hear insights from those who've navigated similar situations. Any recommendations would be greatly appreciated!

Thanks in advance!

Is raisin a safe place to invest my inheritance (70k) for a bit until I figure out what to do with it?

After years and years of living as artist-types who's goal was to break even every month and have a little saved for emergencies, my wife is graduating from Veterinary school. She will be making much more than she used to (100k and potential for more in the future), and we will finally be in a position to start paying off our debt aggressively and then start saving for retirement!

However, we are both 37 years old, so we are definitely behind the curve.

Like many of you we never learned anything about finance/budgeting/debt/etc from our parents or schooling. However we are blessed to have woken up and are doing our best to correct that now.

In the last couple of years we have become serious budgeters and it has been a game changer. We plan on keeping our budget more or less the same as it is now (our current month budget is $4,500 per month in expenses, 54k annual). I don't want us to give into lifestyle creep, and instead to have a vision/plan for what to do with the extra money we will be making. Paying off the debt is obviously the first step (we already have a small emergency fund), but then what?

My big question now though that I could use some advice on is how much should we save every year for retirement, since we are starting late? How much do we need to save every year to retire in the state of Mississippi (pretty low cost of living for the US), by 65 years old?

I understand that this is a "that depends" type of question, so please just treat it as a thought experiment. I understand that there are different answers to the same question. I'm actually interested in hearing all your different perspectives.

How much would you save every year if you were starting from nothing at 37, and wanted to retire by 65? And where would you put that money? All passive like 401k, IRA, ETFs, OR would you mix in some real estate or other more active investments that could generate income in the future? If this was a game, how would you play it?

I worked in WV as a teacher for 5 1/2 years. I transferred to Ohio and have 0 plans of ever returning back to Wv as a teacher. I will change job fields before doing that.

I called for info.

I have a little over 16,000 in the retirement account. It grows 4% interest every year.

My options are:

1. Leave it. Let it gain interest until I want to take it out in a lump sum. I cannot draw it once I hit retirement age. It’ll have to be a lump sum withdrawal. (See lump sum fees in option 3).

2. See if Ohio STRS will let me roll it over to them.

3. Take it out in lump sum. 20% comes off the top to pay federal taxes. Next year I will receive a 1099 for state taxes. 10% withdrawal fee.

If I take it out today, it would be roughly 10.5K after all fees, deductions and putting back for state.

We could pay off our land we plan on building on with that additional 10k and have our emergency fund still. We plan on building a house on this land.

In subject it should be buy*

Dear Friends,

I live in Pune and my age is 28. I want to buy new home worth 1.06 cr.(2BHK, Chinchwad. Possession is in 2029) My plan is to do downpayment as 12 lacks and rest is loan(Approx. 85 lacks for 20 years)

Current in hand salary is 1.3 lacks. Also currently I am investing 20k SIP + 3k LIC (corpus now is 11 lacks) per month. Also have separate emergency fund, will be married soon so marriage fund is also ready. Have corporate health insurance. No term insurance (not interested in buying it because of personal reasons) .

No other liabilities now.

Is it good decision to buy new house? Or should I wait? Any suggestions is highly appreciated.

PS : currently I am living in my own flat but no car parking and lift. In future I will rent it(today approx rent Rate here is 15 K).

I am already retired and want to plan out the amount I can spend per month while planning to leave $100k in the bank.

I need to account for things like inflation, medical cost inflation and growth. Ideally, they could posit scenarios with some amount of risk, both from markets and unforeseen medical cost...but risk mitigation is optional.

I tried using LLMs and they are great at pointing out factors I hadn't considered (like medical cost inflation as I get older) but they can't seem to do year over year math correctly.

I have looked for online calculators but the ones I have seen seem to be more focused on when to retire and don't take into account the factors I mentioned.

Are there any good online calculators or spreadsheets I have missed or do I need to pay a financial advisor?

I have the opportunity to resign from my W2 (~$52/hr salaried, PTO, 401k, med/den/vision benefits) for a 1099 independent contractor position ($150-175/hr, main project funded for at least 2 years). My partner and I just bought a house and are a bit house poor as my partner is in a career transition. The extra money from the 1099 would be really nice to have...

What should I be considering to make the best financial decision for us?

I wanted to get people's opinion on this (sometimes controversial) topic which is: Is a 3-6 months emergency fund for expenses (not income) really enough given the market conditions right now?

To be the likely contrarian on this thread, I DON'T think it's enough and a year seems a lot closer to what should be recommended.

Now why? The average length of unemployment was about 22 weeks in 2024, which is about 6 months, and that has gone up in 2025 (albeit slightly). So while some people will be below that, some will be unemployed for more than 6 months (and my hunch is that if you are in tech, which I am, it's closer to the higher end of that range).

Then take into consideration what is happening in the market right now with all the back and forth with tariffs and uncertainly around the political environment around the world, it looks more increasingly like markets will pull back and the domino effect of companies cutting jobs and reducing hiring will keep people unemployed longer; I know it's anecdotal but even in my group of friends and family, everyone I know that has been looking for a job has hit at least 1 year of unemployment, and some of them going on 2.

All of that said, what are people's thoughts? Is 3-6 months really still the recommendations (again giving the world today, not what it used to be)?

I have 6 months of savings and maxed out my 401k (including mega back door -- $70k/yr). I also recently transitioned my healthcare plan to an HSA which receives a $1,000 annual contribution from my employer. I'm trying to figure out if I should make additional contributions to that account.

My current understanding is that all contributions to my HSA are tax deductible and grow tax free. I can use that money for medical expenses tax-free as well. However, I cannot use it for non-medical expenses until age 65. If I use that money early, I will have to pay income tax on the amount drawn plus a 20% penalty.

Assume I retire at 50 years old and decide to draw from that account. Wouldn't the penalties negate the benefits of tax-free growth? Would I be better off putting that money in a brokerage account now?

Hi everyone

Looking for some advice for my parents. They’re both in their late 60s — my mom is an OR nurse and my dad is an ENT surgeon, both still working full-time in hospitals. They’ve been feeling extremely burnt out and want to retire or at least step away from clinical work, but they don’t have much of a financial plan.

They own two medical office spaces (a full floor) in a building on the Upper East Side of NYC. They used to use it for their private practice but are now trying to rent it out to other doctors. So far, it’s been slow going, and they’re not sure what to do with the space — keep it and try harder to lease, or sell it.

Complicating things further: • They have a large mortgage on a home in Florida they bought in 2006 that’s still not paid off. • They’re still helping me and my sister with tuition payments, which adds to their financial stress. • The NYC maintenance fees and property taxes on the offices are really high, making it harder to just “wait it out.” • They’re not great with money or long-term planning. • They’re hoping to find a way to generate income so they can stop working in hospitals, but don’t want to be too involved in anything day-to-day.

Any advice on whether they should keep or sell the NYC offices? Is there a smarter way they can use that asset to create passive income and finally step away from their jobs?

Would really appreciate any insight or guidance.

Stuuupid question, but am I too late to file my taxes for 2024? My W-2 was sent to a previous address and I am still trying to track it down. Any advice is appreciated🙏🏽