> The debt doesn't 'expire' if it's being serviced through payments.

> it absolutely does. You're kidding right?

>I was wrong that the plans end at the end of 10 years.

What's that about a "double down?"

Again, I know who I'm responding to. That's why I said "I was responding to a comment" (not "your comment") when talking about the post that wasn't you, and then said "YOU then said" when talking about what YOU said.

$869 per week is $45,188 per year. minus standard deduction of $27,700 is $17,488 taxable income. Taxes on that income is $1,749. Minus child tax credit of $2000 is you don't owe anything in federal income tax.

I have both taken out and a pay period is biweekly.

Back in the day the only way to find out about stock prices was either working with a stock broker or reading the news paper after the market closed. So bonds was all most people could easily get. That's why grandma had bonds. You could buy them at the bank.

It's different today. People have more options. A good portfolio will include a little of everything.

And whoa, 0.9%.

Based on the numbers provided, you'd have about a $716 tax liability. But do you have insurance or retirement contributions taken out of your pay? And how long is a pay period?

Edit: at ~$869 weekly taxable income with those W4 settings you shouldn't have any taxes being withheld and you won't be paying any taxes.

We make about the same amount.

Your mistake is in believing that non-deductible contributions to tax deferred assets (ie traditional/Aftertax) result in a taxable liability.

The net effect of the Backdoor strategies is that it effectively increases Roth space without additional tax liability.

You should be maxing traditional 401k and then pursuing one or both of the backdoor options in addition to that. In which case the comparison is not traditional vs. (backdoor) Roth, it's backdoor Roth vs. taxable brokerage.

Also, you aren't taxed on the conversion step of backdoor Roth because the traditional IRA contribution is nondeductible (unless you have lots of existing pre-tax IRA money, in which case there are other considerations).

Then your employer is doing what you asked. You have a very minimal federal tax liability, so you don't need significant withholding.

The only thing withholding would do is pad your federal refund. Instead, just set up an auto deposit into a savings account.

I wouldn't give up all hope, but it may boil down to effort required vs. how fast you want those dollars back. It does look simple from your side: you owed $X for your 2021 tax bill and paid them a total of $X + $400. That's (hopefully) documented in their system. I feel it's very likely the IRS will catch this themselves eventually. But "eventually" with an agency that seems to be continuously overworked / understaffed can be a while. Especially right now when they're primarily focused on 2022's tax season.

So while that mistake last year won't help with this year's return, it is still your money. And the IRS doesn't generally want to keep money they're not owed.

I'm really feeling excluded right now. Was there something wrong with MY data? Why didn't you breach it too?

You nailed it. Those data points are very useful too. I think we would have to do financing. We have around 40k in a savings account that we could use but that's essentially our emergency fund.

Advice on the budget tracking is heard. I think that's a good idea. I'm not sure how much longer we can go without a second car but at least 2 more months of shared use isn't going to kill us. It's a huge pain to do 3 stops on certain days (daycare, parent 1, and then parent 2) but probably not as much of a pain as overspending on accident.

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No. Did I say something that would suggest that?

FXAIX is more conservative than FZROX and has lower expected long term returns. "Small" is a compensated risk factor, FZROX gives you some exposure to that while FXAIX didn't give you any.

Ok...cool...thanks makes sense

Ok..thanks.....makes sense

You may find these links helpful:

• Retirement Accounts
• "How to handle $"

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My spouse doesn't work, my taxable income every week is ~869.

Would you say FXAIX instead of FZROX?

I am in SaaS sales and my wife is in healthcare. I was just reading through that wiki. We are looking for advice because neither of us come from a financial background and feel dumb with money laying around doing nothing. In reading through the wiki, it seems like maybe a good place to start would be a traditional IRA. We both have our own Roth’s outside of our 401k’s, but it seems we won’t be able to do that anymore.

It’s a “regular” Capital One card… I wonder where I can find the terms.

“Credit utilization is lower than ever” this could be it. 30% utilization is the sweet spot in my experience. If you bring that up a bit it would probably come back. The only benefit would be if you are planning to apply for a loan right now. Unless that’s the case, take the lower interest payment, that money saved is worth more to you.

That’s a good call.

So to be clear, right now you can't afford to pay JD Byrider at all with your new car payments and mortgage, etc?

Seems like the best case for you to avoid damaging your credit (which you absolutely will care about in the future) would be to get a short term loan or line of credit that would allow you to pay off the car outright and tow it to their lot, and then make monthly payments on that debt.