Ask him to break it down for you and show you why. You're 18 it's OK to ask questions. Make sure it adds up.

I'm a stationary engineer, refrigeration, hvac, electrical.

Just work...all you can. Plan and organize.

yeah youd be fine financially but then youre living in colorado springs

Not sure that I follow.

Usually this is agreed upon in writing upon agreeing to move in. He needs to find that.

It does, yeah! I had thought Dulles was the end of the line. That's super cool stuff :D thank you

This. Would you borrow however much money at 7% to put in the market? Because if you borrow money for renovations while leaving your investments in the market, that's exacy what you're doing.

You should open an IRA (Individual Retirement Account). The reason to open this kind of account is because they come with tax benefits, which an account somewhere like Robinhood won't

There are two kinds of IRAs: Traditional and Roth.

For Roth, your deposits to it are NOT tax-deductible now when you make the money (unless you have income that is pretty low). But you then don't have to pay any taxes on the money or your gains when you take it out in retirement.

For Traditional, your deposits to it ARE tax-deductible and you won't have to pay taxes on it now, but you DO have to pay taxes on the money and your gains when you take it out in retirement.

Which one is "right" for your situation can be overwhelming and difficult to figure out. But the most important thing is to open an IRA, NOT a taxed brokerage account somewhere like Robinhood.

Check out places like Schwab, Fidelity, Vanguard, and TD Ameritrade which I believe are all highly recommended by this sub generally. You can do it all online too!

This is life advice with a touch of financial advice from someone who did a major career change without an additional degree:

First figure out what is working for you (giving you energy) or what has worked in the past. Then figure out what does not work for you (drains your energy) and note that too.

Write down every idea you have for a different career even if it sounds stupid.

Before paying for more education take stock of your ideas for your next career and figure out how you can “try” them in the most low cost way possible. Interview? Internship?

(This is all the short version of the book “designing your life” which you should buy and read!) good luck!

[removed]

Unhelpful and disrespectful comments and continuously attacking another user are not acceptable here. Move on.

Depends on the area. In my area you pay a full months rent upfront as first months rent then on the first of the month after you move in you get a prorated amount.

Most areas also have pretty strict holding requirements if people prepare rent more than a certain length out, I doubt the landlord wants to deal with that.

You learn right here. Asking questions and reading the wiki.

https://www.reddit.com/r/personalfinance/wiki/investing/

You don't go to Robinhood.

You probably don't need a financial planner.

If you have maxed out your accounts with tax benefits such as 401k/IRA, then you could invest on your own. Examples include low fee index fund, iBonds (max of $10k per year), T-Bills (~5% for 3 months + no state tax), or a money market account ( well above 4% after fees).

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.

You invest pretty much the same way in a 401k as you do on your own. You add in money and then pick the funds you want to invest in.

• Read the FAQ on investing
• Open a IRA (either roth or traditional, probably Roth for you) with someone like Vanguard, Fidelity, Charles Schwab. I use fidelity, I love their customer support.
• Pick some investment, typically index funds to invest in. I would recommend something like FZROX to start with. It is easy and pretty much a set and forget it.
• As you get more comfortable read up on 3 fund portfolio.

It sounds like the will directs the money to be distributed as desired, but I agree with you that I don’t fully understand what the OP is trying to accomplish here from the taxation angle. Worst case, the surviving spouse can assume the IRA as their own and depending on age, let it continue to grow or take minimum RMDs for their lifetime.

I'm in the "both" camp, and I refi'd to 2.25%. Every raise I add a little bit to my monthly mortgage payment. Savings all go to investments.

Last 3 places I’ve lived required the 1st, last and security deposit.

https://www.doctorofcredit.com/high-interest-savings-to-get/

Go to Target, sign up.

$16/hr done and done.

In that case would it make more sense to keep contributing to the 401K and to put any additional savings into a high yield savings account instead of a Roth IRA?

You may find these links helpful:

• "How to handle $"
• Investing

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

I'm with CitiBank - I just checked and it's at 4.00%. I may have exaggerated slightly since I hadn't checked it in a while and just assumed it went up more with the last interest rate hike.

Well, you can take advice from Warren Buffett the greatest investor of all time and invest in a low cost S&P 500 fund (which you should have been doing as you were accumulating) or you can take advice from randoms on the internet. Tough call.