Why is that?

Is your w2 income going to be 0 or virtually 0. If it’s actually 0 then you won’t be able make ira contributions which are limited to the lesser of the annual cap or earned income.

You could do some Roth IRA conversions while your taxable income is low.

I grew up in Maine, left to get an education and returned to raise my family after years of experience in a city that had lots of opportunities to gain experience in my niche field.

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Exactly what he said.

Really? Any state 529?

That's the best advice I've read so far. I don't see why op needs to live like he's still making 60k after tripping his income.

>But with a tripled income, I would allow yourself one or two areas of controlled increased spending. Life is happening now - enjoy it. You can afford to, for example, take a nice vacation + have more frequent date nights while still maxing out Roth and 529 contributions, and saving beyond that.

pretty clear why you posted this. cyber expert (clearly smart individual) triples their income and is just clueless as what to do next, except post here lol.

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congrats. you tripled your salary. don't start going to vegas every weekend and you'll be fine.

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Did ChatGPT write this?

I would not be looking for a different job.

So an HSA is something add money to usually before tax. It’s away to be able to save enough so when you need to hit an absolutely outrageous $7000 deductible you’ve saved enough. 7k?….That’s honestly just not right to hit that deductible I would be spending somewhere around a 7th of my take home. Less than 7 MRI’s probably a lot less since when I seen my explanation of benefits a few years ago it was around a G. My Adair when it first came out I was uninsured was $260. I hope you ever need an epi-pen and never let an ambulance take you anywhere unless you’re not able tell them no.

Unless y'all's mortgage is nuts, you don't like your job, or you just happen upon something wonderful... Why screw with what works?

You guys have a pretty good household income even in a HCOL area and are already meeting all obligations and recommended savings. Changing jobs and stressing yourself out seems worthless unless you hit the job jackpot.

I quit my job to be a stay at home dad. It's pretty great but only one kid so far. If your husband keeps pressing you about jobs and you don't want to hear it, float the SAHM idea.

Literally federal law. There are non-exempt salaried employees who qualify for overtime.

I grew up in Maine

I would not sacrifice the flexibility and your job might pay you more in a few years.

Side note: I started to sell stock options this year kind of as a side hustle (there is a learning curve but I think it went well). Our household is similar, we max our retirement and with expenses it’s hard to have “extra” that can go to other things (without decreasing amount going into retirement). This is what motivated me to try and find a side hustle.

Bill Cosby is threatening to go on tour again.

You can see if an ACATS transfer is an option. If you are holding publicly traded stocks, bonds, ETFs, and some mutual funds then everything would transfer without incurring taxes. But proprietary mutual funds might not be able to be transferred or might incur significant transaction fees at your new firm. I think I remember Schwab had an ACATS request form that allowed the user to check what would transfer and what would have to be liquidated before the request was actually submitted. Fidelity might have a similar tool, but otherwise that information should be similar between any pair of institutions. https://www.investopedia.com/terms/a/acat.asp

Yes, TreasuryDirect is for I bonds, that interest rate has been too good to ignore. But don't consider it an essential account everyone must have.

The actual heck are you talking about. That's a corporate policy not an Obama policy.

Thank you!

I’ll disagree a little bit with the other people here, in the sense that I don’t think you need to continue living as if you’re making 60k exactly. Lifestyle creep can be insidious, I agree - but you’re tripling your income after making a relatively static amount for 13 years.

(If you haven’t been able to save at all for retirement yet, then ignore what I say below. You would need to save very aggressively.)

But with a tripled income, I would allow yourself one or two areas of controlled increased spending. Life is happening now - enjoy it. You can afford to, for example, take a nice vacation + have more frequent date nights while still maxing out Roth and 529 contributions, and saving beyond that.

The advice in this sub is generally very good, but I think the idea that life is short can get lost in the sauce sometimes.

The best advice anyone will ever give you is this:

“It doesn’t hurt to send resumes.”

You got a good thing right now, and that’s good. But there is no way you or anyone else can know if you have the best. So send out resumes. It doesn’t take very long to update a resume, and send them out.

If a place looks good, and you get an interview, by all means take it. Then ask all the questions you need. The easiest time to find a job is when you already have a job you don’t mind staying at.

And maybe you find out that it is as hard to find a job in your industry as you expect, which will give you a greater sense of feeling about your current job.

Where did you get that Portland isn’t a med COL area? Housing is 29% higher than average across the country.

https://www.payscale.com/cost-of-living-calculator/Maine-Portland

Als, look at this table for 2 working adults with 3 kids

https://livingwage.mit.edu/metros/38860

Fidelity is the only answer for you.

• https://thefinancebuff.com/best-hsa-provider-for-investing-hsa-money.html

The best thing you can do at your age is to invest in yourself. A good education or a good trade is the way to go. Be careful of anything that promises you to make you easily rich quickly. Because if it was this easy, most of us would be rich. (Personally I don't take any advice from someone who lives a very high end lifestyle. Most of them have done some illegal stuff to get there.)

I'm 51 and the most financially comfortable people I know are the ones with a diploma in a high demanding field or have a business. They are all also very frugal with their money.

So save your money for your education and don't buy stuff to impress others (especially at credit) and you will be better off than a lot of people.