Do you have a 401k? Ask them if you can roll over traditional IRA to your 401k. If the answer is yes, roll over only the pretax balance (anything but the $6500 you just contributed (2023) and the $6000 (2022) you didn't deduct) to the 401k, and convert all remaining balance (i.e. the $12500 you leave behind) to Roth IRA.

To make sure the account value doesn't change while you're doing the rollover, liquidate everything in the account first.

If you have more than one non-Roth IRA, they are considered one big account for this purpose.

What does the insurance seller say about how much you owe the vendor?

>I spoke with their billing to see what’s going on and they can not provide me with an itemized bill.

"Itemized bill" spell doesn't work as well as its touts say it does or believe it does. What it does do is save professional, 3rd party, retail health bill fighters a first punch if you've already hired those in or plan on hiring them in. They'll appreciate you for it.

>I received a letter from MBA Law (collection agency)

>Should I ask them for an itemized bill?

A 3rd party debt collector does not have access to your medical record with which it could generate an "itemized bill." If it does have access to your medical record, that's a far bigger problem than $n in health care-induced debt now in hands of a 3rd party debt collector.

But let's get to the actual good news!

The credit history/reporting/score-generating industry imposed a 180 day "free clean up" moratorium on itself in 2017 regarding health care-induced debt.

180 days is now 365 days.

Clear your health care-induced debt within that window of opportunity and the credit history/reporting/score-generating industry promises no damage or downgrade to your credit score.

Paid health care-induced debt is no longer included in consumer credit reports.

And there's a new offer of a health care-induced debt obfuscation deal worth up to $500, maybe even more ..., beginning sometime in 2023!

Why did the credit reporting/history/score-generating industry do this? The generational pervasiveness and sheer dollar amount of health care-induced debt in America: people with shit credit can't buy or keep buying homes, cars, and legitimate consumer services/goods on credit.

Your issue is referred to as "Pro Rata Taxation."

Pay attention particularly to Screwup #5 in the Second Link.

Read this for everything you need to know about Backdoor Roth and Form 8606:

• https://www.whitecoatinvestor.com/backdoor-roth-ira-tutorial/

Read this list of common screwups and solutions with respect to backdoor Roth. Beware of Screwup #5.

• https://www.whitecoatinvestor.com/fix-backdoor-roth-ira-screw-ups/

Probably not. The repairs are likely going to be in the $8-10k range. It needs to be re-surfaced because it is leaking, and I don't know what type of other larger issue that may cause in the future if I sit on it. Another $2k or so for the trees to be removed which are close to the pool plumbing.

Besides the house we have:

2 car loans ($50k combined)

CC Debt ($3k)

We also owe the IRS about $2k this year.

So around $55k total debt outside of the home loan.

While you aren't yet a billionaire, there are (many) people 20 years older than you that don't have as much saved up. Keep doing what you doing.

Okay thanks

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The 401k rep doesn't surprise me - it wouldn't be in the plan document and they can't be faulted for not being an expert of general tax law. The CPA was close but a shame, the financial advisor also probably should have known better.

To be clear though, you do need to fully separate from the employer, not just go part time.

You may find these links helpful:

• Retirement Accounts
• "How to handle $"

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Thanks for the advice and recommending r/CreditCard and r/churning , will ask on those too.

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> Should I instead just up my 401k contribution instead of the 50/wk into the index fund?

If that money is really for retirement, yes.

>I guess if those are the options I'd rather do retirement over a house, so that would be upping my 401k contribution by 700/mo? (50/wk from index fund -> 401k and 500/mo from house -> 401k)

That's less of a math decision than the previous question but if you don't want to split your focus (which if you do at your current income will likely feel like treading water because you won't make big strides in either direction) then, yes, go all in on retirement.

You can possibly get the commission waived one time if you contact customer service.

Schwab charges a transaction fee to buy Vanguard mutual funds in a Schwab account.

You can avoid this by:

• Only buying Vanguard mutual funds in a Vanguard account, or
• Only buying Schwab mutual funds in a Schwab account (SWPPX is the Schwab equivalent of VFIAX), or
• Buying commission-free ETFs in any account (VOO is the ETF equivalent of VFIAX)

Good to know about Citi, thank you!

Thanks for the reply, Team black.

Well that was my first time buying into the mutual fund.

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Tough to say. The internet is a great place to say. "Pay 3% now to earn 10% later." It doesn't always work out that way, and often, there is more context. Like, is the car even worth it in the first place? What is your salary? What is this "low rate?"

What I do know is I see few posts along the lines of "Help, I paid off reasonably priced purchases and have no debts."

You can buy VOO with no commission at Schwab since ETF trades are commission-free.

You can buy Schwab or affiliate-branded mutual fund at Schwab also with no commission.

But Schwab, Fidelity, and Vanguard are competitors, so they'll charge the max commission on each other's mutual funds. The commission is charged by the brokerage, not the fund.

Thank you!

I love the people I work with and environment too, so I'm afraid to quit and wind up without a job at all or at a worse clinic, but I need money

Thanks.

Well, I'm 33 years old with 4 kids on a single income. A "beefy" emergency fund isn't really in the cards for the foreseeable future.

My 401k provider representative was unclear we could not find anything in the plan documents that said yeah or no.

My CPA said it was ok. But he said it’s (after you turn 55 , even though IRS.gov says “the year …”

My financial advisor thought I might have to go take one distribution but Was not sure. I’m 3 years away, just making plans , hope to scale back on hours and be closer to home from 55-65 and want to have access to this account if needed without 10% penalty. Thanks for the reply

I personally use a spreadsheet. I never found an "app" that was simple enough to use and didnt bombard me with ads or use my data.

Its easy enough and I am able to customize it as needed etc. Mine is as simple as Columns across the top for account balances, and essentially a ledger of payment activity for my checking account that I use to pay my bills. As I enter, it adjusts the balance, and further down are my budget amounts/sunk cost funds that I offset based upon actuals. I use a credit card for all purchases and as soon as transactions post, I make payments and track them in the ledger with offsets to the budget accounts. Clean, simple and I know where every single cents goes.