That makes sense. Most 7/6 ARMs have a 5/1/5 or 2/1/5 adjustment cap. The first number being the max adjustment in the first interval after the fixed period, the second being the max adjustment adjustment at each interval thereafter, the last number being the lifetime cap.

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Your risk threshold is a very personal variable, so I'm not saying you're wrong, but just pointing out these two options aren't that much different. I have a 7/6 ARM with 5/2/5 adjustment terms and it doesn't worry me any more than one with yours would.

Yes to both but you can't use your HSA on her expenses and she can't use hers on any of your expenses like a married couple can.

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Nonsense. Please link to where you’re getting this info.

We canceled PMI within 2 years, at 80% LTV and without improvements, based on a market value reappraisal.

Age will def play a role in whether the timelines are worth it for you. Most PhD programs should give you a stipend and cover tuition, but it's peanuts.

The Society of Toxicology publishes a paper with salary figures of it's members every 3 years. The last was in 2020

Those in industry are all over 100k, topping 150k around 10 years exp, 200k around the 20 yr mark.

Independent consulting is well over 200k with 10+years experience.

The Society of Toxicology publishes a paper with salary figures of it's members every 3 years. The last was in 2020

Those in industry are all over 100k, topping 150k around 10 years exp, 200k around the 20 yr mark.

Independent consulting is well over 200k with 10+years experience.

>Am I legally allowed to contribute up to $7300 even though we are not married, but are living together as domestic partners?

If you are covered by a family plan, you are allowed to contribute $7300.

>She is self employed. Can we both contribute up to $7300 in our separate HSA accounts?

Yes, because you are both covered by family plans, not someone else's dependent, and not married

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

$10k extra in base, $13k extra from the 401k, $7k extra from the bonus, all adds up to a 30% increase.

PLUS an extra $10k for your troubles.

Take it homie.

Go back to the first year of your mistake, file an Amended Return (1040-X). Repeat for all years until it's fixed. It's not that hard, really, especially since this doesn't change your tax amount and amended returns can be done electronically now, provided you e-filed your 1040 and your software allows it.

> I did the contribution and conversion twice after Jan 1 but before the deadline

The deadline for conversions is December 31st. It's not like direct contributions where you have a choice -- if you made a conversion in the calendar year 2022, it was a 2022 conversion. But the good news is that shouldn't matter, just clearing it up.

“Surrender charges”

“Max partial withdrawal”

It sounds like you have purchased some form of annuity or permanent life insurance product, these aren’t terms associated with IRAs specifically (even if you have done so within an IRA). We can’t speak to any fees you may pay for breaking that contract.

Withdrawing anything from a traditional IRA or earnings from a Roth IRA is subject to income taxes and a 10% penalty. You can withdraw contributions from a Roth IRA without tax or penalty.

> My plan would be to open a new Roth and a new Traditional IRA once I get back on my feet again and can contribute (in theory) the amount I cashed out of each account.

If it is within 60 days of the withdrawal, you can do one indirect rollover per year. Otherwise, your contribution for 2022 is limited to the lower of $6000 or your earned income, regardless of what you may have withdrawn.

I don't buy the "inflation is going up" and "chip shortage increasing costs for parts" excuses the insurance agents give. This is the same refrain given for the past 3 decades since I've been driving with slightly different words.

They will increase your rates because they can and they think you will just pay it. They strike random people despite many including the insurance agents themselves saying the system sets the price, not them.

You vote with your dollars. Go find a competitive insurance. Case in point, my insurance went down the last two premium periods with Geico. I read plenty from people with Geico saying it went substantially higher. Two years ago, my insurance went up substantially when inflation was very low. I switched to Geico.

Good luck, OP.

This is not true, we cancelled PMI within 2 years by getting an appraisal done.

It was also solely due to market value increase, not improvements.

It depends on the lender and what is in the loan documentation.

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I’ve edited the post. It’s per 6 months

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If you need it to buy another home in six months then put it in a high yield savings account instead of investing it.

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Also, ditch the managed investment account. Study after study shows that they don't outperform the broader markets over the long term so the fees you pay are wasted money.

>I'd lose ~$1300 in surrender charges and have ~$16K.

$16k less taxes on the income.

>contribute (in theory) the amount I cashed out of each account. Is this even possible?

No, you can't replace previous contributions your will be subject to the annual contribution limit when you decide to replace the money.

>I don't anticipate being out of work long or spending all $16K

Then don't take out all the money! Why would pay the penalty and the taxes on the whole amount? If this is "my kids will go hungry" territory then take out only what you need when you need it. Start the Roth IRA contributions because those have no penalties or taxes.

>Is this crazy talk?

Raiding your retirement early is almost always crazy talk. But if it's literally a matter of life and death that's less crazy than withdrawing because you can't be bothered to budget.

You'll need to get ahead of this at some point though, you don't want your kids to be your retirement plan.

Steal it. Then he’ll learn that unprotected cash is unprotected.

>Is there a downside (besides being out $1300) to cashing out both accounts

Yes, you're going to pay tax and a 10% penalty on your Traditional IRA withdrawal, and on any earnings from your Roth IRA. So say you've put in $10,000 into the Roth, then $1,000 is the earnings. So that's $6,500+$1,000 that gets added to your taxable income, although that may be low this year depending on your 2022 income so far. On top of that, there's a penalty applied after taxes are computed, which is going to be 10% of that, so $750. So you'll either pay that, or $750 is reduced from that refundable Child Tax Credit you have.

If you don't expect to use $16k, don't take out $16k. Take out your Roth contributions first. No tax, no penalty. Then take out $2k (or whatever) at a time from your Traditional IRA.

And are sure you have surrender charges? Those aren't common in IRA's. Unless you're using "surrender charges" to mean "taxes and penalties".

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25% on housing. Laughs in Californian.

MG also says that those are goals over time.... When you get a promotion or higher paying job.... keep creating this scarcity.

What is your time horizon?