There is a federal cap on the social security - you exceeded $147K in income a few paychecks ago by my calculations if you are paid biweekly and were paying $400/pay. Anything above that would not have SS taken out. It will start up again on your first 2023 paycheck. The 2023 limit will be $160,200 by the way.

Nothing wrong with being cautious on spending, provided you are actually increasing savings each month and not lending it all to family or whatever it's a good attribute to have. Id stop the money lending prompto.

Dumb question, but when you say remember to plan for things like SS, pensions and healthcare, i’m assuming SS/pensions as income and healthcare as an expense?

whaddya know. post deleted lol.

my point is this man is capable of finding the sidebar.

Haha honestly, these are helpful steps to know! Thank you

What is your niche field?

Read.

https://reddit.com/r/personalfinance/w/budgeting

explain

I do love the idea of reducing our taxable income. We did clean out the brokerage account earlier this year to pay off the house but that’s the only time we’ve sold for the short term. I’m always afraid of something big happening and not nothing the money to take care of it. I think I’ll bump my contributions up to 20% and go from there. I don’t have the idea of a Roth IRA I just don’t like more money coming out of my take home pay after taxes and deductions if that makes sense

I would invest in YOU. Figure out how you’re going to make money and a lifestyle that can afford you to invest long term. Take a certificate class for a skill at a college on the side. May not ever use it, but it’s one more thing to fall back on.

0 first dollar coverage and it says "HSA" on the card. Anything else I should look for?

And perhaps you can BUT fully remote doesn't mean flexible.

Fellow doc here. Now is a great time to maximize your roth, because your have been taxed less on the money you are putting in. I would prioritize maximizing your roth and your TSP minimum should be to the 5% match. Would throw any extra you can afford into TSP up to the limit. This decreases your taxable income, but that doesn’t matter as much at this point in your career.

Would second reading WCI book cover to cover. I’m not going to change your mind on crypto, but the big picture view will help you figure out where you want your crypto piece to fit.

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Not line in the US. Not seriously. It's a joke how little protections we have. I was getting an anxiety just signing a lease because who knows what would happen. I had a job walk me out the door because they didn't want to pay me the rate for reaching 5 years

What do you do for a living out of curiosity?

I totally missed the section where they said they moved from hourly to salary. Can you show me where I am missing it in this post?

Yikes, you're way more intense than I am!

1. Make charitable donations (NYE tradition)
2. Review investments, rebalance accounts as needed
3. Review Social Security statement and pension balance online
4. Determine various savings goals and set up automatic transfers/deposits
5. Look at new tax laws and figure out what changes, if any, I need to make to address them

Edited to add: 6. Begin the year with a money diet, spending minimally from January to March.

Sigh, this oft-repeated myth rears it’s ugly head again…

You can gift something like 12 million dollars tax free in your life.

Any gift exceeding $16,000 in a year has to be reported to the IRS on the gift giver’s tax return but they will not be taxed on it. They just want to know about it.

The recipient never has to report anything.

What makes your husband think he knows so much about your career options and earning potential? He works for a much larger organization, of course there is more money available for him and others in his profession.

You have found a unicorn job-a small business that pays well, treats you good and is flexible. If you decided to be a road dog, husband will have to pick up the slack with the kids.

Check to see if you can do a mega backdoor Roth and your new gig... It'll really allow you to pump up those retirement savings. Congrats!

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Make a zero sum budget. Then you know what you will be spending and on what. It makes spending less stressful.

I believe you can gift up to 14,500 per calendar year non taxed. The IRS website is your best resource.

To my belief it isn’t. You are allowed to gift I believe 18k a year to an individual tax free. Even 4-5 years ago I couldn’t see the irs raising that limit 8k.