How did the financial advisor lose your parents money?

woooooooo

lots of colors

Some interesting tidbits: boardgames $900, a fridge 1623, a TV 1150. No idea if that is monthly or left to pay or whatever, and I don't need to know.

You have your income down and your expenses down.

you have retirement planning going on.

You have savings.

You can definitely afford a $1500 monthly payment since you already pay that in rent.

texas has the wackadooble energy companies where you can find the cheapest energy and hope and pray everything does not freeze.

You have no state tax.

You two are probably more knowledgable about your financial preparedness than 97% of the people in your age bracket in North America.

I think you are solid and you two know what you are doing and would handle any weird thing thrown at you.

I say buy a house and have kids.

If your plan allows it, you can contribute to an after-tax 401k above the limit for traditional and Roth, up to the total of $66,000 for all employee+employer contributions in 2023. To be clear, an after-tax 401k is different from a Roth.

HSAs are a trifecta super power account. Contributions are not subjected to tax. You can invest and grow tax free, and if you spend money on qualified expenses, it comes out tax free. The money rolls over and grows each year, unlike an FSA.

In retirement, if you happen to use the money for something other than medical expenses, you just have to pay taxes. With the way things cost today, I cannot imagine I will have a problem spending this appropriately in retirement.

I’ve got bad news for you.

I see now. Either way you can't go to post tax 401k after you max out your pre tax 401k. The plan is maxed at the annual cap up to $23,500 for FY23

Wash sales don't apply to crypto or NFTs.

Unfortunately I am in the same exact situation. It is quite annoying how awful my timing was but I tell myself I needed a place to live at the time and I paid the market rate at that time. I tried to ask the PM but they just laughed, and rightfully so. A lease is a contract, and although your LL may say no, it doesn’t hurt to ask. They probably won’t lower your rent, but maybe you can get a free month or something.

I’m covered for retirement

Here's a link to the PF Wiki for helpful guides and information.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

Follow the flowchart or ask specific questions to it.

Here's a link to the PF Wiki for helpful guides and information.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

Go through the prime directive.

I assume you are maxing out retirement?

Might be helpful to give a little more detail.

Are you contributing to a retirement account of some sort?

Do you have a six month reserve in accessible savings?

Have you read side bar info? (It’s an EXCELLENT resource!)

The zero coupon just means it doesn't pay you interest. Your yield is determined by what you buy it for at a discount. You buy it for 95$ and 6 months later they return 100$. That difference is your interest. All rates are annual so, you have to calculate the fractional yield.

I think you missed the thrust of my question regarding company true-ups.

Let's say your company will match dollar for dollar up to 3% of your salary. You contribute 6% of your salary every paycheck, but you max out your 401k by the end of June and dont contribute the second half of the year.

If you work for a company that does not True Up, they will match the 3% for the paychecks that you contribute, that's it. So by maxing contribution early you miss out on the full company match. This is an extreme example but with Fidelity's percentage method of contribution, it's easy to miss the match for the last paycheck.

But if your company will true up the match at the end of the year, it doesn't matter if you miss contribution weeks as long as you work there for the whole year and your contribution percentage is high enough. For my example, since you contributed 6% for half the year that is equivalent to 3% for the whole year, and the company will make up the missing match.

Aside from the great setup, once you leave to a new workplace, you don’t know who will be waiting for you there, assholes, backstabbers? At your current job you know all the players and how to deal with them.

Listen to this. Spot on.

Crypto are not yet considered securities by IRS. Wash sale rule only applies to securities.

Yes.

https://www.investopedia.com/articles/investing/072513/basics-tbills.asp

T bills/CDs/HYSA are the perfect vehicle for sub 5 year time horizons. I just wanted to make sure you weren't putting money in those things without an objective. Otherwise, the only cash on hand should be immediate bills and 3-6 months emergency fund. Totally fine to have those plus a house saving fund.

> ...that is a "wash sale". Please look up the wash sale rules.

I don't think it applies to crypto at the moment?

But my question is, can we still swing tax loss harvesting at all for 2022? I think today was the deadline at 4pm eastern when the markets closed. But does that apply to crypto? I'd think getting it done tomorrow would be fine but only find sources with conflicting guidance.

I love this idea so I found acorn ☺️ thanks for letting me know about this. I struggle a lot and it lets me invest in it

Just keep investing in your SP500 index funds. Just set it and forget it even during market corrections until you retire. Just continue to DCA,, keep it simple and stress free. No need to involve an advisor for that. Consult one just before you retire.