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View Reference


  • hmmmmmmm57

    Hi, iÔÇÖve just set up a marcus HYSA account earning 5.5% APY. I also use a capitol one credit card to make most of my purchases, which is currently set to autopay out of my citizens bank savings account. would i be able to set up the cc autopay to come directly out of my marcus account? in that case i would just move all of my savings out of citizens probably because the APY is .07%

  • Plain_Chacalaca

    When budgeting, or deciding what you can afford, say you make $100k salary, $25k bonus, $10k interest, $15k matching and $30k portfolio growth. 

    Do you consider your gross income, for purposes of budgeting, to be:
    1. $100k
    2. $125k
    3. $135k
    4. $140k
    5. $150k
    6. $180k

    And why? 
    I generally go with 6 because it makes me feel better- not my real numbers. 

  • megaffin3

    Married 24yo, in school to be an eye doctor with $170,000 in student loans at average of 7.28%. Just received HPSP scholarship to pay for remainder of school + living expenses for the next 2 years, then 6 years of active service.

    I have $90,000 in individual brokerage account and $30,000 in Roth IRA. Wife makes about 50k. My income for this next year with scholarship should be ~30k.

    Once on active duty, loans get capped to 6%. Should I liquidate my brokerage to attack student loans now? This brokerage money has been a mental safety net for years. 10% average return in market may outpace loan interest over long enough horizon? I don’t know that I will stay in for 10 years so I would like to assume no loans will be forgiven through PSLF. I would be okay with consolidating my student loans to a private bank with a low interest rate if possible, but I don’t know that is likely.

    I think my best option is to sell as much of my individual brokerage as I can that keeps our AGI below 92,500 to keep 0% long term cap gain tax and use that to pay my student loans over these next 2 years until I graduate.

    Any thoughts or unofficial advice?

  • OG_potato_gangsta

    6 months ago, I posted about how I was turning 27 with no retirement, but decent income and large savings. I was able to get a raise from 63k to 75k and am currently maxing out my 401k (traditional), maxed out my Roth IRA for 2023 and plan to do so for 2024, and now have about 57k in savings.

    With that said, 57k in a HYSA is still a lot. I planned on home ownership, but probably not for another few years so I wondered if any possible savings should just be thrown into index funds as my Roth IRA and 401k are already maxed.

    I guess I’m just curious how to handle this situation, I know I’m pretty fortunate and am grateful for that, I just want to make up for lost time not contributing to retirement.

  • Peeeeeps

    First time filing taxes while owning a house for a full year. The mortgage interest + property taxes paid is larger than the standard deduction so it’s the first year for itemizing. My partner and I own the house together, but are not married. I asked this question a couple of years ago, but since both our names are on the house either of can itemize and include the mortgage internet paid and property taxes as long as the other takes the standard deduction right?

  • skeletonjukebox

    IÔÇÖm having a hard time paying off my Credit Card, establishing savings, and making ends meet. I work forty hours a week in the Midwest, at a decently paying entry level job in a science field. I make about $1000 per paycheck (biweekly) after taxes and insurance. I split rent and bills with my partner, so I pay about $500 in rent/utilities a month. IÔÇÖm working on paying off my car, and pay $400/month. My phone bill is about $110/month. I try to put about $50-$100 in my savings a month.
    I had made some irresponsible purchases on my credit card back during college. No big purchases, just lots of little things that added up. A few bigger car issues had to be put on my credit card, and I quickly learned how to reign myself in, but my debt is currently $13,500 with a 23.24% APR.
    So, approximately $1100 of my $2000/month income goes towards rent/utilities/bills, I try to save $50-$100 a month. The remaining ~$800 is used for groceries, gas, and my Credit Card bill. IÔÇÖve never missed a payment, and I used to be able to pay more of my CC bill off every month, but since moving into a new apartment IÔÇÖm struggling to get back on top of my finances. And advice is appreciated. Do I put as much as I can on the Credit Card and pay it off with my debit card, rather than paying things off with my debit card and putting the remainder towards my credit card? My partner and I are hoping to get married in the next few years, and that will also be expensive. Please help!

  • Pocket-Veto

    Thinking about buying a home in 2.5-4 years.

    I have $15,000 in an HYSA for my down payment fund and roughly $50,000 in a taxable brokerage account. On the 1st of every month, I add $1000 to my taxable brokerage and $250 to my down payment fund. I want a sanity check on my thinking:

    Ideally it would be nice to not touch my taxable brokerage for this initial home purchase, and instead use cash only. For that reason, I’m thinking of increasing my down payment fund contributions to $750 per month and decreasing my taxable brokerage contributions to $500 per month.

    Does this seem reasonable? I figure in 2.5 years I’ll have roughly $37,500 in cash and could potentially avoid touching my brokerage. Obviously not close to a 20% down payment but that’s not really a concern for me.

  • feetandballs

    I paid off a card today and ÔÇ£onlyÔÇØ have >3k remaining on the other two. Should have all three paid off this year. I just needed to share somewhere!

  • AyJaySimon

    Assume that the credit scoring formula is as follows:

    35% payment history

    30% credit utilization

    15% credit age

    10% credit mix

    10% new credit

    Let’s say I have two open trade lines – a student loan and a line of credit linked to my checking account as overdraft protection. Let’s say they were opened at the same time, many years ago. And let’s say I have perfect payment histories on both.

    If I paid off the student loan, and kept the LOC open (borrowing small amounts against it and paying it back once a month or so, for the sake of argument), what would you imagine would happen to my score?

    Keeping in mind, the effect on my credit age would be a wash. But I’d be losing an installment loan, so I guess I’d get dinged slightly for that?

    Additional question – would there be any point in taking out a Fizz card (or something similar)? If you’ve not heard of them – it’s essentially a debit card linked to your checking account, but instead of debiting your checking account at the POS, it borrows from the card company’s line of credit, which is paid back the next day from your checking account. These types of cards are typically marketed to college students as “smarter” ways to establish and maintain credit scores. But it’d be a 2nd revolving line of credit for me. For the purposes of “credit mix,” wouldn’t having two revolving LOCs be treated the same as having one? Plus I’d get dinged a bit for opening a new credit line?

  • Feeling-Ordinary-860

    Found out I’m going to receiving a large amount of inheritance soon (~$300k, but only getting $100k per year for reasons). I’m getting it in cash and am trying to figure out how to use it effectively. I’m almost 30 and only make about $60k in a high cost of living area. But I’m very fortunate to have already been receiving some other family funds, so I’ve got ~$65k in savings (perhaps already too much). I’ve maxed out my Roth IRA and am contributing to a 401k, though I switched employers and can’t contribute to theirs until September. I’m single with no kids and no debt. Should I just stick most of the money in an S&P 500 index fund (after contributing as much as I can to the 401k starting in Sept)? And how much? I want to make sure I’m not doing something too risky and/or screwing myself tax wise

  • ResplendentPius194

    Greetings to the peeps here on this board, and thank you for the opportunity to share my with you all….

  • Regular_Car_6085

    My company may go public soon. I have a small amount of options, and most aren’t vested. My total options are maybe $10k.

    Am I correct I can only sell vested options? In addition, because I can only sell them when we go public, do I have to hold them for a year after we go public to pay LTCG instead of short term? Located in the US.

  • DanceSex

    Currently maxing my wife’s traditional IRA, my 401k, and my ROTH IRA (based on our MAGI). Anything extra is going into my fidelity account (only VOO) to be used for retirement. Is there anything else I can do to maximize our retirement savings prior to putting into the fidelity account that will have a tax benefit?

    Our emergency fund is full and in an HYSA, we don’t have an HSA, I fund a 529 for my kids, and the only debt we have is a car loan at 0%, another car loan at 3.9%, and the mortgage at 2.875%.

  • pvtmiller12

    Bank/Brokerage for new HYSA/CDs

    Hello, looking for advice on getting a new bank for CDs and HYSA, to keep money in for house down payment and car buying in the future, less than 5 years expected. I’d also like to have a checking account and or credit card with decent points from this entity as well.
    What I’ve currently looked at:

    Capital One, CD 10 months at 5.1%, HYSA 4.35APY

    Marcus by Goldman Sachs, 5.0% 14 moth CD, HYSA 4.5APY

    Discover, 12 month CD 4.7%, HYSA 4.25APY

    American Express, 11 month CD 4.7%, HYSA 4.35APY

    PNC Bank (not really considering but it’s the wife’s bank and they are local) 5.05CD, Low AF APY, no hysa I can find.

    If anyone has experience with any of these I’d love to hear how it was getting set up, getting money moved around/in and out, and or credit card application/rewards.

  • shrugsnotdrugs

    I’m hoping for some clarity on timing to avoid the pro-rata rule.

    I have some money in a traditional IRA, that I am working on rolling over to my current 401k. This is pre-tax money from an old employer 401k that automatically rolled over and I didn’t touch. After rollover, I want to make the max contribution (with after tax money) to another traditional IRA and convert it to Roth before April 15.

    I read on the Boglehead wiki: “you have until December 31st of the tax year in which you make the backdoor Roth IRA conversion to empty the traditional IRA. ”

    I am confused on timing/implementation. Do I avoid the pro-rata rule with my rollover-before-conversion strategy? The purpose or importance of the Dec 31 deadline isn’t clear to me.

  • Sweettoothaddict89

    I have roughly 100k in my current savings account with almost 0 interest rate. Planning to move the funds to HYSA before I start investing for few months. Could you pls advise on best HYSA based on your personal experiences?

  • OptionsRntMe

    Am I dumb for putting all my cash in a HYSA?

    Within the next ~3 years I will be using it for a down payment, and a good portion of the cash is proceeds from a condo I sold a couple of years ago. The HYSA is 4.6% APY and I can access it whenever, but IÔÇÖm timid to put it in the market for the obvious risk of potential losses and relatively short timeframe. Thoughts?

  • coolfunguy1997

    i had an hsa through my old employer i stopped working there in august. i have health insurance through my current employer but it isnÔÇÖt a high deductible health plan so im no longer using my hsa. is it okay to just take the money in my hsa out or will i be penalized in some way??

  • DanceSex

    If I max out my wife’s traditional IRA, my 401k, and my ROTH IRA every year and then come tax time our MAGI was too high for the ROTH IRA investment, can I just roll those extra funds out of the ROTH IRA and into my Fidelity investment account or will I be hit with a penalty?

  • Cocacolaloco

    I feel like I know the basics of investing but IÔÇÖm so confused by my fidelity rollover and donÔÇÖt know where to look without spending hours and hours. I really thought the money was invested in a target date fund but it started telling me I have this amount $ ready to invest. And almost the whole rollover is in FDRXX which seems like itÔÇÖs just something for it to sit in as it is cash reserves?

  • gnarlycarrot

    For the first time in my adult life, I am debt free. Around this time last year, I had 10k in debt. I just wanted to leave a heartfelt thank you to this sub and everyone who contributes to it. I have learned so much from you all. Thank you, thank you, thank you. This is not the end of my financial journey, it’s the beginning. But I have a plan thanks to all of you. I never thought I would feel so confident about finances, but this sub has changed my life.

    THANK YOU so fucking much. You are making a difference here.

  • Rave-Unicorn-Votive

    I. Am. Vested.

    I’ve been using a negative dollar entry in Quicken to reduce my 401k balance by the unvested amount, finally got to delete it and now my portfolio looks like it had a fantastic day regardless of what the market ends up doing.

    The 6-year vesting schedule seemed an eternity at one point (and then Covid happened and the definition of “eternity” changed, lol).

  • goblue2k16

    Best place to park some cash that I’m saving up for a future down payment on a home? In total, my wife and I have about 100k in Ally earning 4.16% interest. I don’t plan on needing this money for at least 3-5 years. I was always told that money you expect to need in < 5 years shouldn’t be invested in the market, so what other options are there?

    I know a lot of people talk about bonds having a slightly higher return than a HYSA, how do those work? Should I just keep it in the HYSA?

  • omgbigshot

    Best place to park ~15k for monthly payments?

    I have a lump of ~15k that my wife and I want to set aside for my sonÔÇÖs preschool tuition over the next year. I missed my opportunity for any pre-tax benefits offered by my employer, so I canÔÇÖt restructure my thinking around that. If I know IÔÇÖll be taking out ~$1,200 per month over the course of the year, is the best bet to just plop it in a HYSA?

  • JadedFalcon6150

    HYSA rates are around 4.5% for now, and it’s pretty clear that the fed will be lowering interest rates “soon”. If I open a HYSA now, does the account’s rate drop more or less exactly when the fed drops the rate? Or is it locked in sort of like a CD for some period of time (clearly less than an actual CD) after the fed’s rate drop? The interest rates in HYSAs are variable…right?
    At some point the “HY” may no longer exist, how is that going to affect step 1.c in the Prime Directive? Do we just have to suck it up and not earn much in our emergency funds?

  • nelozero

    My parents are retired and want a new vehicle. They run errands locally during the week, but no long drives or daily commuting.

    Their current cars are almost 20 years old with high mileage, but work OK. They’re not getting rid of them.

    Does buying make sense over leasing for them? Budget isn’t the issue for them. They just never believed in leasing since you don’t owe anything after the leasing period is done.

  • babysonfirebmore

    Inherited over $200,000 – advice

    I just inherited more than I expected. I had a plan, but need to revise given the additional funds.

    We are high earners now, but that is more recent. husband is an immigrant who was limited by his visa reqs, and I work in the public sector. Poured savings into our wedding (which was cheap) + house + paying off his high-interest student loans.

    Context: married with kids. Annual income pre-tax is $335,000. Pay about $4000/month for childcare, which will end in 4 years (thank you public education).
    Own home, $375,000 remaining at 3.25%
    I am required to contribute 7% to a pension. No employer match. I have another 401k with $100,000 in it.
    Husband had//has about $50,000 in savings he is investing into his own business. We have another maybe $15,000 in a wealth front investment account.
    We have about $20,000 in savings for emergency funds. $10,000 in college accounts (we have 2 babies/toddlers).
    I have $51,000 in student loans at 4.6%. we have about $12,000 for car debt but it’s an interest free loan. No cc debt.

    Current plan:
    $30,000 in emergency savings (especially as husband is launching his own business). Can likely get 5% for HYSA with current rates.
    $12,500 for college funds (setting up for #2, catch up contribution for #1). Already have 529 and index fund.
    $69,000 to Max out retirement contributions this year (I have access to 401k and 457b and think I can do both? $23k for husband)
    $30,000 investment in my husband’s business (I believe in him and will get equity).
    $25-30k for immediate home Reno needs.
    This equals $171,500, so $48,500 left.

    I was planning on putting down about $30,000 on my loans, but I’m wondering if it makes more sense to invest? My monthly payment is $523, which we can afford. I have about 13 years left, though.

    We’d like to have at least $50,000 available in about 5 years for a larger home renovation, so I was thinking HYSA or money market. But also would consider more aggressive longer term investing depending on what I put into my student loans, if at all.

    Thanks so much for the advice.

  • AgileAd7005

    My spouse and I are looking at opening a CD with funds that we are saving for a house down payment. Neither of us have had a CD previously. We initially had planned on opening the a joint CD, as we both contributed to the funds and it also includes the profit from selling our previous home.

    However, after seeing that CDÔÇÖs are taxed based on the owners income level, we are wondering if it would be possible to only put one of us as the account owner. We are currently filing taxes as married filing separately for student loan repayment purposes. As one of us is in a higher tax bracket than the other, would it be valid (I.e. legal) to put the CD in only the lower earning spouses name? Obviously weÔÇÖd like to pay as little in taxes as possible, but the last thing we want is to get in trouble over it.

  • pumpkin_pasties

    Am I thinking about this correctly? Better to get a $500K mortgage than pay cash because that $500K in the market will return $1.6M over 30y (assuming 4% returns). I got a 5.6% interest rate, so over a 30y loan thatÔÇÖs $533K spent.

  • crapmonkey86

    I know you can pull contributions out of your Roth IRA, but can you do that after you’ve already invested them? I have vanguard, so I put 7k into it it tomorrow and I have that sitting in their money market account. I take 5k and buy VTSAX in the IRA and then the rest of the 2k I have sitting in VMFXX. I imagine it’s easy enough to pull out the 2k, but what if I need another 3K of the 5k I bought VTSAX with? Is it just a matter of selling it and then pulling out 3k? What is the process to make sure I’m not taking out any gains?