If you have access to a 401k with match, contribute up to to that level. Then Roth IRA (or Backdoor depending on income level) up to $6,500/year. Then back to 401k up to the max. Then HSA (if your Health Care Plan allows). Then taxable account.

Follow the Prime Directive Flow Chart: https://i.imgur.com/lSoUQr2.png

I’m paid on Friday, twice In a month

There is a website called freewill.com where you can make a will for free. I did it and had a notary/paralegal friend look it over.

Wife and I make pretty good money but also have been struggling a bit with the newish financial reality of having two kids in daycare. We knew going in what what were in for, but sometimes the reality is tougher than you expect.

We do not want for much, but we do live fairly frugally compared to others in our friend circle, most of whom make about the same amount of money. However, we did overextend ourselves a bit this year for Christmas. First time having two kids for Christmas and I may have went a little overboard with my 4 year old.

Anyway, thought we were going to have to pay off about $500 on a credit card. Not a huge deal. But yesterday my wife found out that she hasn’t been getting paid the $4/hr raise she got when she moved into a new position at her work in September. It’s looking like not only are we going to get a couple grand in back pay, but we’re also going to have an extra ~$400+ per month in our budget after taxes. Every little bit helps, and a nice surprise to find out you actually make more as a household than you thought.

Generally, the $282k home would be at the very top end of your search. What does your entire monthly budget look like? It’s concerning that you live with your parents and are carrying credit card debt. It would seem to be foolish to choose to spend 20% interest on the cards if you don’t need to. If you’re already in a spot where you’re running up debt while living rent free….what will your budget look like with a $200k mortgage? How much are you planning on putting down? Unless it’s well more than $20k, I’d assume your payments will be a lot closer to $2200-2300, depending on taxes/insurance/PMI.

if you are only paid twice per month then you aren't getting paid 80k. I would double check with your boss on the pay frequency. Edit: what days are you paid on?

If I file jointly will a spouse’s IRA trigger the pro rata rule?

[removed]

Thanks. Really appreciate it. I’ll check it out in a week or so.

Yes, we definitely dropped the ball and were not being realistic. We both have worked our whole relationship so we have never experienced something like this. It’s not an excuse for not being prepared tho.

Yes, I am!

I’m paid twice a month, It’s been only 4 months to my hire here so I’m not sure if it’s 24 vs 26 times.

1. GET THE CAR BACK. If your parents have the title, they should be a able to pick it up. Bring the doc and call the police if you have to. For now work out a payment plan with the mechanic. Ask for receipts for all work. This doesn't sound like a trustworthy mechanic.

Are you considered "nonresident alien" for the purpose of filing US federal tax return?

If my visa gets picked up in the H1B lottery, then yes. The future plan is to be in the US for at least next 7-10 years. If visa doesn’t work out, I have no option but to go back to my home country

If you’re on a visa, why you contributing to fsa or 401? Is your long term plan to stay in the us?

Can you confirm your pay frequency is actually semimonthly (24 times in a calendar year) and not biweekly (26 times in a calendar year)? Because if you are paid only 24 times a year, you only actually make $73.8k and not $80k

ChatGPT?

And to clarify, „100% traditional 401k“ you mean that I should first max out and contribute 100% of the money to a traditional 401k before I worry about the Roth IRA, right?

That's inclusive of property tax, PMI, home insurance, etc.

My old job has trouble filling positions because they pay a little below private sector and the old fuddy leadership doesn't like remote work. As such, my old position and countless others are sitting open, even all these months later. I feel like in the worst case scenario, I could likely get rehired, but I'd be more in the 75k-80k range than 95k, though they even have a cybersecurity position they can't fill that pays about 100k, but that 5k isn't worth 4 days in office to me right now.

The main thing is I'll just have to live tight and keep saving/building funds to be a safety net until I get a few raises or bonuses in. But living tight will be easy compared to the mental suffering of being 34m living at home.

The only other tip I would have is to finance a car and keep in touch with prior landlords. These histories of paying big bills on time every month make it a lot easier to get a mortgage.

The plan may let you roll over post tax to Roth IRA. I screwed up and had some money in post, but called and my plan lets me roll it over even though I’m still employed. Took less than 10 minutes on the phone.

Hello. How can we find a good CPA CFP to help plan with taxes, general investing queries, and just overall compliance. I am just starting and keep getting confused, so a person who can guide will be best. I tried finding some online but they are unclear on what kind of services they can provide and charge even when I ask to discuss if they are the right fit for me. Any pointers will be appreciated, thank you. And Happy New Year to everyone!

Yeah I’m not liable to pay social and Medicare because of my visa status

> Per pay bimonthly paycheck - Gross pay - $3076.93

> Pre tax deductions - 401k- $307.7 Healthcare FSA-$11.04 Medical - $52

> Employee taxes - Federal - $426.97 State -$131.11 (GA) Take home - $2148.11

Are you exempt from Social Security tax and Medicare tax? If not, where are they?