Correct. And then convert into the same Roth.

Gotcha, so mostly large cap growth. You might consider adding some small cap or small cap value, but honestly you'll probably be fine.

I’d say keep an eye out for something. If you’re switching make sure you are going to be getting at least a 20% pay bump before even considering along with meeting your requirements for remote and flexiblility since you have young one running around. Tbh if you want to offload your job at some point I’ve been looking for a remote jobs with no success yet :)

https://unbury.me/

Thank you for your reply. Perhaps I should have worded the post a little better. I am not looking at fiddling with allocations continuously, I just wanted to set it up in a way that hopefully outperforms the target date fund and then leave it alone for the most part.

Why is a child in daycare if you’re a stay at home parent? Once they grown up you’ll be working and putting money into a 401k also

From what I've read they might be treated differently compared to the personal mailbox addresses.

These are actually the selections from the new account. Thank you for your suggestions.

My experience with Ally has been great. They increased their HYSA rate 18 times this year, from 0.5% to 3.3% (like most of the banks that keep popping up here)

This is probably a good time to be looking at longer-term CD's. I keep a portion of my e-fund in a 5-year CD ladder with Ally. I started by opening 5 CD's (1, 2, 3, 4, 5 year terms) at the same time. At renewal I rolled each one into a 5-year term and add additional funds. This has smoothed out variations in interest rates. I've never needed to, but if I needed some of those funds I could do so and only pay the 3-month interest penalty on one of the CD's.

With higher interest rates it's even been worth it to break the lower interest rate CDs, pay the penalty, and buy higher rates with similar maturity dates.

Taxes are paid quarterly, you can use tax filing software to help with this.

Yes you can claim expenses

You're taxed in the year when you receive the $$, not when it's earned

You don't need a "PTO fund" you should just budget based on the average days you plan to actually work and get paid. You should have or build an emergency fund as well.

[deleted]

This actually helps. I’m planning on either doing some internship or joining a research team, but maybe not for a salary. I’ve already heard that students from my school do get recruited into decent jobs, but my family tells me the importance of getting at least a master’s degree, which I am debating about attempting in 5 years.

There is an app. It's called you brain. If paying multiple cards, with either the avalanche or snowball method its minimum balance on all except for 1 card where you make all the payment you can regardless of minimum.

There isn't any math to do or worry about. The only info you need are either balances, for snowball method, or interest rates for avalanche method.

It seems like you are just struggling with how to implement the program because they are very straightforward.

I do work part-time. I own my own home. I do have a similar amount in fixed rate bonds. I would like to gain access to the pension and take control of it.

I would like to travel for a few years whilst I'm still in good health. The maturity date of the pension is 67 years old. Who knows if I'll still be alive then and what my health would be like if I am.

Don't borrow to try to get out of debt. It's just going to put you further in debt. I've never seen a debt issue solved with more income. It's helpful, but it's a tool in the toolbox.

My recommendation: for all your debts, call the lender and let them know of your issue. Most will work with you and take about anything to put towards paying down the debt. Then you need to buckle down on your expenses and conveniences and hold fast to a budget. You might be eating the Dave Ramsey beans and rice for awhile, but you need to get your spending in check first. If you've purchased too much house, you may want to consider downsizing to another home. If you've got a mortgage that is assumable by others, you may have a bidding war if you've got a favorable interest rate.

After that you'll need to prioritize your debts and budget. Always pay for home, food and utilities, and if you don't have anything left over, then don't pay those other debts and work with the lenders.

I don't see bankruptcy working well for you with a relatively decent salary. It sounds like to me you were living outside your means.

Why no impact? The extra income being taxed to 2022 could be very different than being taxed to 2023 if you were trying to stay within a bracket, no?

Try using either the Avalanche or the Snowball method to bring down your debt. There are YouTube videos that have extensive information on these two methods. Prep your own meals and refrain from going out to eat. Once you have ended your debt your options will open up immediately to save and invest more aggressively. Eliminating debt will allow you to obtain favorable loans from your lender in the future and frees up more cash for your monthly budget.

Well take into account we have about 600k in retirement funds so the market being down by 20% is 120k lost which can’t be made up by a single year of contributions.

But mostly sp500, my wife is mostly in a 2055 target fund because while I track hers I let her control it and she’s just a set/forget type.

What do you mean when you say "there's no deadline at all"? Isn't there a deadline if I want it to count for tax year 2022?

Check out the videos this channel has done on I-bonds. She has done quite a few and does very helpful step-by-step tutorials.

https://youtube.com/@DiamondNestEgg

ETA: Here is her I-bond playlist: https://youtube.com/playlist?list=PLsv_4H5rP97EoJqiwJl-DEWzWhFmT1E1Z

I asked him about what he expects to happen for the next year or so, for which he had a decent idea, but for legal reasons he can’t manage the account

Why not a PO Box instead?

Curious about if I could be smarter about my emergency fund.

I currently have ~8 months in my long-term savings account as emergency money that would cover my absolute needs, high priority wants, + about $200 of flex cash / mo. That could be stretched to 10-11mo if I shaved off the P1 wants and flex cash. This was calculated at 45% of my salary for needs.

I was building towards 12 months before I would consider this set.

I'm wondering if now would be a good stopping point to start putting that money elsewhere.

Few points - I have a very low rent because I'm doing the digital nomad thing and paying very little rooms with f/f when I move around. At some point, I do expect to find my own place. I am hoping to wait it out for rent prices to drop (we'll see) but this cost would likely triple once that happens.

I am also working towards trying to find a better job. I make a dismal salary for my experience and am aiming to jump 20-30k for my next position.

Both of these though are hypothetical and do not apply to me right now.

I have no debt, and I am not yet edible for 401k match through my new job but am putting 3% into it.

I am trying to figure assuming this is my next year, should I keep building towards 12 months or start investing or moving that money? I have a few pricer short-term wants (a nice vacation and some cosmetic stuff) that I've been trickling cash into budget-wise that I'm wondering if I could fully fund more quickly.

Just looking for some outside opinions on this? I'm 37/USA so I'm thinking it's time to really think about planning for retirement as well.

Please note that in order to keep this subreddit a high-quality place to discuss personal finance, off-topic or low-quality comments are removed (rule 3).

We look forward to higher quality posts from your account in the future. Thank you.

So the next year, I can just contribute right into that account?