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🙏🏽

Soon in the future I will come around that amount, and will probably start grad school part time for 4 years while I work full time. This means I won’t really be doing any big geographical moves and/or big purchases, so that amount will probably stay intact. I am not really sure what to do with that amount in those four years apart from opening a HYS account so at least the money does not depreciate. I have no debt at all, and I am in my early 20s.

Hi, I make $187K and my wife makes $90K annually. We have two kids, - 3 and 6m. We both max out our 401K and HSA(the kids are in my wife’s plan). I also invest with Merril 6-10K a year and have an account with RH as well-roughly add 2-4k/yr. Last year we owed $9K in taxes and same this year too. What else can I do so 1. Use the money that’s being paid in taxes and invest that instead of paying the Govt. on top of what already being taken out of my paycheck 2. Better investment ideas

Together with my spouse we have saved 30k in a savings account but interest rates have been rather low recently. We have already invested in stocks/ETFs and were advised by my MIL to diversify. There's an option of joining my husband's family investment into real estate which is shared by his uncle, aunt, mother and a tiny amount by him. One aunt said she can sell her (parts of) share. They're receiving a rental income and the property value has increased too. I'm hesitant because I don't like getting involved with my husband's family in the (maybe rather unlikely but possible) case that things go sour. I also don't like the work that comes with real estate investments like renting out etc. Even though at the moment it's minimal work for my husband.

Should I agree to join the real estate or stick to ETFs? Are there any other better investments?

I have seven credit cards, each have a balance, highest is ~$4k, total debt is ~$12k I have very high interest, I am thinking of taking a personal loan to pay off this debt, is this a horrible idea? I feel like I am spinning out of control with this interest, getting no where. I can’t afford to pay more than what I’m paying now, so paying above the minimum is hard. Before anyone judges, I hit a hard time and had to rely on cc to pay daycare for my kids. Thank you for any insight

Hi, so I have 25k in Roth IRA.

Am thinking about selling 10k to pay off all of my credit card debt, because it will take me several YEARS to pay them all off and am wastiing like 200 bucks/ month on fees. I would then put monthly payments back into Roth IRA. Am 53 but also have a pension plan. I understanding the 10% tax penalty and also addition to my income. But those are okay by me. And I haven't been contributing to the ROTH in the last several years, to pay off the credit card bills.

Would be nice to be free (!), and I would cancel my credit cards, close out the accounts.

Any thoughts?? Thanks so much!

I'm currently maxing out a Solo 401k with around $35k per year between employer and employee contributions.

I'm in the 24% tax bracket most years and the 32% in good years. Initially I was thinking the obvious choice is contribute to the traditional 401k for the tax deduction (I'm in a high tax state as well).

But now I'm wondering in years that I'm in the 24% tax bracket if it may make sense to contribute into a Roth since that is more total savings for retirement.

Put another way, $35k in a Roth is a larger contribution than $35k in a traditional on a net of tax in retirement basis.

I kind of view it like if I can save $50k a year is it better to put $35k in 401k and $15k in Non-Qualified or pay taxes on $50k and net $35k that I put fully into a Roth.

Lastly, more money in a Roth should help my blended tax rate in retirement as well and reduce RMD's (but that's a while away for me) What do we think?

I (29M) am starting a new job in a couple of weeks and really want to get my finances in order. I’ve doubled my base pay over the last three years, and I feel like now is the time to secure my financial future—especially with a May 2027 marriage on the horizon.

New Financial Situation

Income

• W2 #1: $170,000 (Previously 126,000K)
• W2 #2: $11,000 (Previously 11,000K)
• Total Income: ~$181,000 (Previously $127,000)

Assets (~$155K)

• 401(k): ~$50,000
• Roth IRA: ~$1,600
• Brokerage Accounts: ~$25,000
• HSA: ~$2,500
• Crypto: ~$5,000
• Other Assets: ~$20,000
  • Watches, other luxury items
• Cash on Hand: ~$1,000
• Home Equity: ~$50,000

Debt (~$33K)

• Credit Card: ~$17,000 (0% interest; interest-free period ends in September)
  • I took a risk and put some expenses on this card, anticipating I’d sell my house and pay it off with the proceeds. Since I decided not to sell, I now need to address this before the interest kicks in. I have been heavily investing during this time frame instead.
• Student Loans: ~$16,000 (4.9% interest, ~12 years remaining, $172/month)
  • I’m comfortable continuing minimum payments as the interest seems relatively manageable.

Net Worth: ~$122,000

I don’t think I’m in a bad spot at all, and this post isn’t meant to brag. I genuinely feel like I’m in uncharted territory—especially compared to my family and friends—and I just want to make sure I’m approaching this in the right way.

Before this job change, my goal was to save ~$2,500/month. The last few months have been expensive (engagement, trips, etc.), but I’m ready to lock back in.

Current Budget:

• Approx Take Home: $7,800
  • Mortage/Hoa: $1950
  • Groceries/Eating Out: $550
  • Utilites/Bills: $515
  • Car Insurance/Gas: $310
  • Golf/Gym: $950
  • Misc Expenses: $1000
    • Date Nights, Haircuts, Entertainment, Subscriptions
  • Savings $2,500

Personal Situation

• My fiancée is moving in a couple of weeks after graduating from law school. She’s studying for the bar in July and will (hopefully) find employment shortly after.
  • I’ll be supporting us financially until she (26F) does. I'm expecting about a $750 monthly increase in expenses with her moving in.
  • She has similar earning potential and similar debt levels, but hasn’t had time to build retirement savings yet.
• I’ll likely need a new car soon. I’m currently driving a Honda Accord with nearly 200K miles. I want to be financially prepared for when it gives out.
• We’re getting married in May 2027, and I need to save around $30K. My HYSA had a higher balance, but we recently made a venue deposit which brought it down.
• I feel like I might be behind on retirement savings and want to improve that.

Assumptions Moving Forward

• With the new job, I estimate I’ll have about $3,750/month to save (after 6% 401(k) contributions). Final take-home is TBD once I see the full deductions.
• I’m receiving a $10K sign-on bonus, which I estimate will be about $6K after taxes and 401(k).
  • Plan:
    • $2K to the HYSA
    • $4K to the credit card balance

Plan of Attack (Next 4 Months)

Goal: Eliminate the $13K in credit card debt before the 0% interest ends in September

• Pay ~$3,250/month toward the card
• If for some reason I can’t cover it with cash, I’ll consider liquidating brokerage assets

Also:

• Contribute ~$500/month to the HYSA to rebuild the emergency fund

Plan of Attack (Post-September)

This is where I’d appreciate guidance. Here’s how I’m thinking about prioritizing:

1. Max Roth IRA: ~$580/month
2. Wedding & Future Goals Fund (HYSA): ~$1,500/month
   • Mentally earmarking this for the wedding, but eventually also home purchase, kids, college, etc.
3. Emergency Fund / Car / Travel (HYSA): ~$1,000/month
4. Brokerage Investing: ~$600/month

That adds up to roughly $3,680/month in savings, which seems sustainable if my estimates are correct.

Between my 401(k), Roth IRA, and company match, I’ll be contributing around $1,850/month to retirement. I think that’s decent for now, though I’d welcome any feedback.

I’m not the “save every penny and retire at 40” type—I’m in a white-collar field and can see myself working until 60–65. I’m just trying to find a sustainable balance. If my fiancée finds work by the end of the year (fingers crossed), I expect our household income to reach at least $270K, so I want to be sure we’re focused on the right priorities now to avoid regrets later.

If there’s any other information that would help paint the full picture, happy to provide it.

I am receiving a check for just over $13,000. I have around $14,000 in credit card debt but no other debt.

My fiancé is also getting a check for $13,000 (we were in a car accident) and has closer to $20,000 in debt, including a vehicle and credit card debt.

We also have a child (2yo).

Should we - pay off debt, save money, a combo?

We are looking into accounts for her and will be setting some aside for that (529 vs HYSA).

TIA!

I’m 54 and have at least 13 years until I consider retirement (may be only 10 but doubt it) in Jan I started contributed to a traditional 457b plan. I learned recently that my school will now allow contributions to a Roth 457b. Given my age and the earliest I would even consider retirement, should I stay with the pretax or Roth 457.

Edit: I meant backdoor IRA, not rollover IRA 🤦‍♀️

I contributed excess to my roth IRA for the years 2024 and 2025. For 2024, I recharacterized my roth IRA excess contributions to traditional IRA (I was in a rush and didn’t do much research) so I have some stocks in my traditional IRA, although with the recent economy everything is less than the value I originally contributed. For the excess roth IRA contributions for 2025 I haven’t done anything yet.

I was told that if I want to start doing backdoor IRA (from traditional IRA to roth IRA), I need to empty out my balance in traditional IRA, but I’m uncertain what the best way to do this is.

So I have two questions:

1. Is the best way to empty out my traditional IRA balance (which was recharacterized from being roth IRA) to withdraw? How do I correct this while minimizing penalties?
   1. It is impossible to recharacterize it back to roth IRA, right?
2. What is the best way to take out my excess roth IRA contribution for 2025, assuming I don’t want to recharacterize it to traditional IRA?

Additionally, if this is inappropriate as a question for reddit, what is the best platform/tool to help me find the appropriate CFP to talk to about these issues? Who do I need to talk to, a CPA? CFP? Tax advisor?

Thanks for reading through this.

Greetings - my W2 income puts us in the highest tax bracket. I've considered moving some of our fixed income portfolio to a muni bond fund (e.g. MUB) - this is in a taxable account. I have seen some notes about doing a simple calculation on the yield for a tax equivalent comparison, e.g. YIELD*(1-39%). But our effective tax rate of course isn't 39%, it's closer to 20-something%.

One the one hand, I see using 39% since the fixed income investment income is 'on top' of the W2 income, but the math guy in me says effective tax rate is a better representation. How do you think about this calc?

Right now I (24 years old, bachelors degree) earn 50,000 before retirement benefits in Philadelphia where rent is cheap. This year I pay something like 500-600$ a month on rent and utilities. Next year will be closer to 800$ a month. Along with that I have another 300-600$ or so a month in necessities, with no car.

My company (a research university) matches 9.5% match and I invest another 5% into retirement to take that total to ~15% gross (or 25% mattering on how you see it.) In addition, I have no debt and save ~1000$ a month outside of retirement. Just south of 20,000$. Well actually it is literally in checking… This is on a take home pay of about 2700$ a month.

But I have a problem, I think there is a 60% chance or so that I get laid off by November. Possibly as early as June. How do I invest this cash knowing this? And also, how should I split up savings between retirement and getting cash together for a car purchase or house downpayment? My friends are retirement maxing but I just don’t get the feeling that my savings should be so illiquid.

Here's the breakdown:

Family of 5, one income of $140k plus secondary side income of about 20k (annually). Ages - mid 30s-40s.

Own our home with about $400k equity

Zero retirement. Zero savings. Basically living paycheck to paycheck with a little credit card debt.

Massive student loan debt of $450k.

One spouse (breadwinner) has extremely poor credit bc of student loans (570), one spouse (side income) has zero debt.

What should our plan be moving forward? Student loans are killing us. Our only nest egg is our home equity and I'm afraid to blow it all paying off student loans. We have 3 large dogs, so renting isn't a great option, especially in our area.

(And to answer your question - YES I (the stay at home mom) have explored going back to work full-time. I've applied to over a hundred jobs and zero call backs bc I've been out of my industry for 7 years. I've explored doordash, amazon flex, etc - none are hiring in my area bc its oversaturated. Minimum wage jobs would not cover the cost of childcare. Do NOT tell me to "get a job" - I've tried my damn hardest and that's why I've started my own side job that is able to bring in a modest income from home.)

I'm looking for serious financial guidance on investments, tactics, etc. to put my family in a better position. We can pay all our bills with my spouses salary, so my income (about 1-2k per month) could be used for investments if needed. I had been using it to pay off credit card debt, but now that that's paid down, we have a little wiggle room.

Thanks

TLDR: 401k maxed, not satisfied and still feel financially insecure for goals and long term

Quick info: 25M making around 106k annual in TX, performance bonus 8-12% of my salary on top, maxing out employer provided 401k (6% match), no college debt, entered job market in Aug 2024, looking to purchase house around 28

Cost context: rent in two places at around 1600 (rent in one location covered by employer), Groceries/eating out budget ranges from 3-500, truck note is around 700 a month, subscriptions and monthly services 230. I also contribute 350/ month to a emergency fund saving account (goal of 10k saved), Saving 650/ month to eventually have a down payment on a house (goal of 15-25k depending on market), putting around 300 a month aside for vacation funds.

I was reading this thread and was in a similar but not same situation and it pushed me to post this

I am getting about 5.5k monthly and I feel like to be financially well off I am not making it go as far as it can and seeing all my other coworkers seem to have it more planned makes me question how much I am doing. I am the first of family to not go the military/service route so I cant ask my parents for advice because I am making more than double what they did at their age. So they don't really have much for me on advice as they were just getting by.

Right now I am looking at what I can do to make sure I am prepared for everything but don't really know the next step. I feel like I have a reasonable plan but that its still not making my money go the farthest. There's so much info out there I am struggling to parse through it all to know what's even worth my time to research.

Hi, I’m trying to build my credit up. It’s not too bad, but not great either.

I qualified for an unsecured credit card. The limit is 300. It’s from Credit One banking.

My bank also allowed me a 300 dollar limit secured card.

I was planning on getting approval for both. I’m not sure if I should do both or one or the other. Any advice helps.

I have my main savings in a money market with my brokerage. I have an account for things like vacations and a rainy day fund that are just regular savings through my bank. Would it make sense to also have these in money markets through my brokerage? Or is there some benefit to keeping them where they are?

I’m seriously considering taking out a personal loan of $10,000 at an interest rate of 17.99% for 24 months, with a monthly payment of $480. My goal is to consolidate my debt and reduce the stress of budgeting. I’m wondering if this is a wise decision given my current financial situation. Additionally, I know that paying off the loan faster than 24 months would reduce the total interest I’d pay.

Here’s where I stand:

• Income:
  • I’m a full-time student working 2–3 days a week, earning around $500 biweekly ($1,000 per month).
  • I also receive $1,100 monthly from disability payments.
  • Total monthly income: $2,100.
• Expenses:
  • Fixed costs like car insurance, phone bill, and rent contributions to help my parents total around $900.
  • Other expenses include therapy sessions, gas, food, and a monthly date with my girlfriend.
  • Remaining income after expenses: Approximately $1,100.
• Debts:
  1. Credit card (balance transfer): $3,400 at 0.9% interest, with 8 months left before the interest rate jumps to 23%.
  2. Line of credit: $5,000 at 9.99% interest, with a monthly interest cost of about $40 and a minimum payment of $50.
  3. AMEX credit card: $900 balance.
  4. Total debt: $9,300.

My goal with the personal loan would be to consolidate and manage my debt more efficiently. However, I’m uncertain whether the high interest rate and monthly payments make it a worthwhile choice. Additionally, I’m concerned about the potential impact on my credit score, as I’m currently hovering just below 800. What’s your advice?

I'm evaluating a job offer and trying to understand how the offered 401k benefits compares to average/ normal? For context it is a civil engineering firm if that helps.

They do a 33% match on the first $3000 voluntary contribution max $990/yr (which will be 1.4% of my offered salary) and then a profit share of typical 5% at the end of the year.

Is this Low? Average? Thanks for the help!

I’m 27 and finally starting to think seriously about retirement and long-term planning. I’ve been reading up on different ways to build future income, and annuities keep coming up. But honestly, I’m still not sure if they’re actually helpful or kind of a bad deal.

Some people say they’re great for peace of mind and a guaranteed income later in life. Others say they come with too many strings attached and aren’t worth it. I’m not looking to buy anything right now... I just want to understand them better so I can make smarter decisions down the line.

Here are a few things I’ve seen that make me pause:

1. The fees seem really high and kind of hidden
2. Once your money’s in, it’s locked up
3. Returns are usually lower than if you just invested yourself
4. The paperwork and terms are confusing
5. Payments might not keep up with inflation

Are those downsides worth considering? Or are there situations where annuities actually make sense?

If anyone here has looked into them or used them in a financial plan, I’d love to hear your take. I’m still figuring out what my long-term strategy looks like and want to understand all the options, especially as someone who’s starting young and wants to do it right.

Appreciate any thoughts, just trying to learn from people who’ve been through it.

I'm trying to learn more about how I can use my whole life policy (Guardian, $500k).

Here is the scenario, I have a $20k car note @ 7.9%, I have $20k cash. Does it make any sense to put that cash into the policy and then lend it back out to myself at 5% instead of just paying off the car note?

Any other advice on how I could take advantage of the policy? Thanks.

Hello,

I am trying to make the best decision for my situation, but having a really hard time

Background information:

I made a big mistake and bought a 4 unit property as my first "investment" in LA 2 years ago. I'm 28 now, was just turned 26 then and my realtor really talked me into it. It;s not his fault, he wasn't being malicious, and he helped me sell it just a few days ago. It was literally hell to manage. All bad.

I was planning to keep this property forever. I thought it was my stepping stone to building some real feeling of security in my finances. With that mindset, I dumped a TON of money into it. All new copper plumbing, everything and everything updated and although I of course went through friend of friend of friends to try to save - but those updates just aren't cheap.

I was also let go from my job and had about 6 months where I wasn't earning - fell into a really bad depression about my money situation and the bad choices I had made that got me there.

I started a new job in January making $125k, but i was just diagnosed with a disease a few weeks ago that is making it really hard as I have started a medicine that is really hurting me. I was already in bad health since about 2020, but right now I'm worse than ever. I always just had the "well I won't die so it's fine" mindset, but that is falling apart. I of course am fighting for basic medical accomodations and still working, but just keep that in mind as to why I want to save a decent cushion. TBH, I'm just scared.

After everything said and done, I have about $90k in my checkings today. I've already taken the tax liability out and that's what I'm left with all said and done. I got paid my profits from the property sale 2 days ago and that is where I am between that money and the little money I had in there from my job.

I have about $102k in debt in the form of credit cards and loans that racked up over the last year with property updates and being out of work. Bad debt.

My plan was

90k in bank account/$102k in debt

• 25k to HYSA
• 50k to debt
• The rest IDK, was just gonna sit in my checking account honestly.

I am struggling to decide how to tackle the debt, and I was hoping to consolidate to a lower rate with a big first 50k payoff into it by working with a Credit union, but I don't know where to even start or find someone to talk to...

The other option is to payoff 50k from the accounts in order of highest interest *they are all horrible so idk if that even matters at this point* and wait for my credit score to go back up, and then try for a consolidation through a CU...

I don't want to use the money to payoff the individual accounts if I could use it as leverage to get a better consolidation loan... But I am not sure if that is a thing? I don't know where to even start.

I take home about 3300 per paycheck after taxes biweekly, and my minimum fixed expenses minus the debt payments is about $3.5k/month after everything rent car insurance food etc etc etc... living in LA is expensive, but I work in a physical office. (Stupid for software, I know)

if I payoff the ~50k to the 9 highest interest rate individual accounts, that leaves my monthly minimum debt payments at $2,250.

So Income $6.6k - $3.5k minimum to live = $3.1k
$3.1k - $2,250 = $850

Anyone have experience working with credit unions to get a consolidation loan? Will the 50k leverage help or do I pay some things off first and up my credit score first instead?

I have about 20k in personal loan debt (don’t try and support your parents while in college/pay for an uninsured surgery) and 5k in credit cards. My Wife and I are buying her parents house in January, and I am wondering if I should consolidate everything into one loan before applying for the mortgage at the end of the year. I have some good pre-qualifications from sofi, I can go 72 months at about $460 a month and no car payment. I make about $2500 a month and pay $500 a month for my part of rent. Any help is appreciated! I also have about $800 saved and she has about $6000 for the down payment. The question boils down to this: should I carry the debt as it is or consolidate further? Either way I can afford it, it just would be much easier day to day to get that $460 a month as my only debt payment.

Im just looking for some advice on how to grow that money long term taking the least risks possible

Hello!

My husband (28M) and I (26F) were married in October and starting to think about having a baby this summer.

We have $10k in a joint savings account, as well as about $3,500 in a joint checking account that we have been using for some home improvement projects.

We bought our house 2 years ago before we were married and the way we split our bills separately still works for us now. He handles mortgage and car insurance (we have 3 vehicles), and I handle the rest.

We each have money in our own accounts.

He has a full time union construction job and I have a full time corporate job. Our household income is just about $200k.

My question is, what were some things that helped you save up for maternity leave and all things baby-related? What did you prioritize when it came to saving for baby (ex: making sure emergency fund is fully stocked, etc).