If you're used to it, just buy the H&R Block software.

Just what werewolfdad says. You can get a benefit for having a mortgage, and specifically, mortgage interest, if you can itemize. Once the mortgage is paid off, you don't get a tax benefit anymore.

But then you aren't paying for a mortgage anymore either.

The big one is insurance. Make sure everyone is covered under your plan (if your job has one) or look for one in the marketplace. If you are not married, then she may qualify for Medicaid etc. As for budget, I don't know what your financial situation is but i would cut back on unnecessary costs (1 car instead of 2 etc.) I would also keep an emergency fund.

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I wonder if OP is currently panicking about the electrical issue. So they’ve only gotten one quote so far.

This issue needs to be fixed ASAP, but this does not mean you don’t get multiple quotes.

At your income level it is all just a matter of personal priorities - there is no 'should' that anyone else can direct you to.

> Is there anything I can do on my end to help put a stop to this? I'm salaried if that means anything.

Get your supervisor and their supervisor involved

Thank you for this!!

It all starts with enough income to support yourself. Rent, food, utilities, car insurance, everything else. A film apprenticeship probably won’t cover it.

Mortgage interest isn't SALT, but it does have different rules that can limit it depending on when the mortgage was incurred and how much the mortgage is for. You would be able to deduct all of the interest on a $450k ( $360k with the 20% down) mortgage.

Don't use the phrase "roll it." That could trigger an indirect rollover where the sponsor cuts a check, withholds 20% for taxes, and starts a 60-day countdown for the ex-employee to deposit the check plus the missing 20% into an IRA, which is exactly what OP is trying to avoid.

OP doesn't need to talk to 401(k) sponsor at all. OP needs to open the appropriate type of IRA, and give the 401(k) account details to the IRA sponsor to initiate a direct transfer.

Yearly Interest on $95k loan a year @ 2.625% = $2493.75

Yearly Interest on a Treasury bond earning 4.6% on $95k = $4350

Difference of $1876.25

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Thank you! I will peruse this now!!!

Another point here is that self employed folks get a better advantage from home ownership in most states due to SALT work around. Unsure if OP is, but with that income it wouldn’t surprise me.

Can you enlighten me a bit on where you get the $2000 figure from? Just curious!

Freetaxusa is essentially always the answer

Right. You won't know the result of a current or future auction until it has ended. (Don't worry, you'll never pay more than the face value of the bill.)

What you see on Fidelity have already left auctions and are being traded on the secondary market.

It seems like you’ve come around but also read this

Mortgage or invest: https://reddit.com/r/personalfinance/comments/zssug0/_/j1ddljd/?context=1

Further keep in mind that rental mortgage interest is always fully deductible so your rate net of tax is even lower

You make a good point! I think my Ally savings account is currently earning 3.4% interest, which is crazy to think… Thank you for your input!

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In short. One house is paying itself off and both have abysmal interest rates. I think it would be wise to invest your savings. Even a 3% yearly return (very low) would be more beneficial than paying off your mortgage.

Might as well buy another rental ;)