The only thing that matters in investing is your post-fees, post-tax returns. Anything else is deceiving.

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The key is to make sure they are classified correctly. You can't just throw a 1099 at anyone, even though a lot of people sure would like to *and they do it, even though it's not advisable!

https://www.irs.gov/businesses/small-businesses-self-employed/hiring-household-employees

It's not about income taxes, it's about the other things like social security, medicare, unemployment and workers comp, etc.

Not sure honestly.

I can save you the money of a financial planner. Pay off your CC and continue to save.

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Right, good point.

You don’t need a financial advisor, at this point there advice will (at best) be the same information you can find in the wiki.

You seem to be a bit misinformed on some things (you’re likely maxing your 401k match, the max contribution is more than you can afford on 45k), but reading the wiki here and Google searches will clear up most details relatively quickly.

Get rid of the debt asap and then focus on getting your income up. 45k for full time work isn’t great especially if you’re single income, and it’s certainly going to make buying a house difficult.

I think a financial planner probably isn’t much help unless you have enough money that you’ve maxed out normal money things and need more exotic places to put it or you’re unable to read books or Reddit and need someone to tell you how to cover the basics.

You don’t have much to lose if you have access to free fiduciary advising. Otherwise I doubt you’ll get much, but hey, I’m not a financial advisor.

Oh, and unless you can pay off credit cards immediately, stop paying into 401k until you have. No investment and no match will come close to matching not paying off crushing interest rates.

You dont need a financial planner to tell you you should pay off your high interest debt today. Why even bother keeping an emergency fund if you wont use it in the active credit card debt emergency you are in?

I think paying off the CC debt ASAP and following the Prime Directive would set you up for success.

You may not need a financial planner, but if you want to pursue one, make sure they are a fiduciary.

Being in managed funds and index funds does not give you any diversification benefits. Its entirely dependant on what's inside each.

You can have a mutual fund and index funds that have a very similar selection of equities. The only thing giving you diversification would be if your mutual funds had other products inside. You could purchase those diverse products yourself without paying the ridiculous management fees.

I would probably stick it in retirement or fix up the house some more. I dont know. I am already saving for retirement and for a new car and for house fix ups and vacations. There isn't anything I need.

My spouse's grandmother was quite wealthy and employed a full-time housekeeper/cook for decades. Then in came time to retire and the worker had no social security or Medicare because she was paid under the table all that time. The grandmother was wondering if she should give the woman some money to live on. I don't know what she eventually decided to do.

I'll just add that I would add between 25% and 50% to whatever number they give you and probably 6 months extra time. Supply chain still is kinda weird and while inflation is cooling off, things have really shot up in the last year and I suspect we'll still see pretty big increases for awhile...

The 7 extra hours are not required/guaranteed. I will still be working 40 hours plus one Saturday a month with possible OT

is your managed fund still doing better even after fees? That's the usual issue - the fees often are more than the "gains" from active management.

Does it matter if you're looking at the after charge return?

Some funds are worth it and some arent.. the index fund is simple because it just follows a pattern. If the underlying index does ok an index fund will be fine..

Active funds can do better but they're more hands on to manage and monitor..

> I have index funds, and managed funds, and having a mix of both is part of my diversification strategy.

You can opt for a target date fund and be fully diversified with one fund.

Diversification is not investing in multiple funds that have similar holdings.

Will you still get overtime for the additional 7 hours a week plus the 1 Saturday? If not, this does not seem like a good idea

If you won’t need the money for 3-5 years you can buy CDs and t bills which are currently above 4%. Split the money amongst those 3 investments (including SWVXX) and you should be good. If and when we move out of a recession, those rates will drop.

What would you do with the extra $20k? Do you value an extra $20k more than you value a four-day workweek?

I work 40 hrs in 4 days now with some OT. The opportunity is supposed to be 40 hrs, but are working 47 hrs a week and 1 Saturday a month

Oh yeah. He kept it for probably 6 years. Once you get through boot and your advanced training you'll have its of time unless you're deployed. Just keep some sort of insurance coverage forever. If you ever stop it all together you'll come back as high risk and it is ridiculously high.

I was worth NOTHING when I graduated. Actually, I owed student loans, so my net worth was negative.

I said the same thing as you. Yes, I worked. Yes, I had money. yes, I spent money.

I should have saved. Now, you know.

You are not late at all.

Start putting money into an S&P 500 index mutual fund today. keep contributing $50 each month for the next 40 years.

Once you have a job and can contribute to a 401K do that. Still contribute your $50 per month though into the mutual fund.

The key is just do it, and let time and compounding do all the heavy lifting.

You will be fine.