For some context first, I own a small business where I'm the sole employer and employee. I earn ~115,000 a year, I use 60% to pay myself in wages for compliance, the other 40% are my distributions. I have a ROTH account I started back in 2021 that I've been maxing out every year now. In California, there is a retirement plan mandate for all employers to follow by law, and the deadline for businesses with at least 1 employee is the end of 2025, so I need to look for a 401k plan.

Once I find a plan, what's the best percentage that I can contribute as both an employee and an employer? Ideally I max out the contributions to both the 401k and ROTH, but I don't want to spread my funds too thin between retirement and the take-home pay. Would like to hear some advice, thanks!

Hey all, new here but need help.

I moved companies and am trying to rollover my Roth Ira from Principal to Vanguard. Principal sent me the checks and I had to forward those to vanguard with additional forms.

Problem is, supposedly vanguard is saying they need additional Roth Ira information on official letterhead which I thought I provided. But I thought, sure I'll contact Principal to get that information on letterhead again.

I have been in a nightmare back and forth battle for a month now with Principal support to get this. They refuse to give me this information on letterhead and only via email or verbally. And just say they're not supposed to.

At the same time I have gotten emails from them saying I just need to fill out information release forms (which I did) and then I never heard anything back. And when I call in they just tell me it's policy that they cannot print this information out...

At this point it is way past the 30 days alloted to not have my Roth Ira be taxed and I'm giving up on being able to ever transfer this over. Any advice?

Hi everyone, I’m trying to figure out the best way to balance my retirement savings between my 401(k) and other options like corporate bonds. Right now, most of my retirement savings are in my 401(k), but I’ve been thinking about adding some corporate bonds for more stability and predictable income.

For anyone who’s been down this road, how do you decide how much to allocate to your 401(k) vs. alternative investments like bonds? I’d also love any tips on whether it makes sense to roll over some of my 401(k) to an IRA to access more investment choices, or if it’s better to keep things separate.

Any strategies that have worked for you to diversify while staying efficient with taxes and fees? Thanks in advance!

Hi all, so my 30yr old cousin got 100k and is not sure what to do with it. I’m not financially savvy or literate by any means but I suggested they invest most of it. Any suggestions or thoughts? What would you all do with 100k?

Also my cousin works as a waiter while going to school so unfortunately no 401k

Hey all. I have a mortgage and I'm investing 1k a month into an individual retirement account (supplemental to employee matched retirement account). I think I'm in a pretty good spot. I managed to get my loan when rates were at record lows, so I'm currently in the mindset that investing more now and letting it grow is better than paying down my mortgage faster. But I'm kind of a stooge and just going off instinct. Any advice would be duly appreciated.

Hi all. Maybe this is normal but I’ve never heard of it before. Essentially my employer doesn’t tell me how much they match right now. They do it dependent on how well the business does, and will let people know how much they will match at the end of the year in the summer before that I believe. So there’s no minimum, they could technically match 0%. However, the financial guy I talked to said it’s typically between 10 and 20%, so I assume that’s truthful. But it’s 10 to 20% of the total amount I put in.

This is not the way I’ve been told a 401k matching system usually operates, so I’d love some feedback. I’m 22, just entered the workforce and make 55k a year. Thank you!

Okay so this is gonna sound crazy but I’m in the works of doing research and I’m curious if anyone has something to say to help out. I would like to do some kind of savings account that makes money over time ( 20 years ) that my brother and I can combine our money in and leave it. I’m desperate for advice thank you!

I have a lot of transactions this year (moving brokerage accounts, selling high fee funds, etc.) that I want to make sure I leverage the tax loss harvesting opportunities appropriately before end of the year. Any suggestions how best to approach this?

Hey there, I am 32 years old. I have a personal traditional IRA with 45k that I contribute 5% of my monthly income to, and a Roth IRA worth 15k i also contribute 5% to each month. Good stable county job in CA. I make about 65k gross a year.

My question is, my employer offers a 457b plan with no company match. I have not contributed anything to this account yet. Is it worth contributing to a 3rd retirement accnt (the county 457b) or just stick with my two IRA accnts?

Any pros or cons?

Thank you in advance!

Some financial planning

Hi guys a new college grad here. So I’ve graduated college and was lucky to land a good paying job. I have a Roth IRA which I plan on maxing out next year and so on. My question is whether it’s worth it to open up a 401k with the company I work for. The company matches up to 4% after you have worked there for a year. I understand this is free money from my company but I just don’t like the idea of getting taxed on withdrawals made during retirement. Should I just stick with my Roth and continue to max it out or open a 401 as well?

Me and my fiancé are looking at buying our first home (145k,1200 monthly mortgage everything escrowed in, 0 down ) we have 0 money in the bank currently . I make 27$ and she makes 16$ an hour . Is this a idiotic decision , or is it a considerable option ? Thank you

I am in a situation where I need to preserve my current balance in the short term - say next 3 months. I just want to be extremely safe with my 401K balance. Typically I wouldnt care but seeing how the political season is right at the time I need to preserve capital I feel there will be some wild swings up and down, So, I'd like to go safe for a couple of months,

I used to have a money market fund in my 401K, but it is no longer an option. I have these three that look safest.

1. Invesco Stable Value Trust - Class B1: This one uses wrap contracts? Dont know what those are or how dangerous it is to put my money in, but it is listed as Short Term Reserves

2. Vanguard Total Bond Market Index Fund Institutional Shares: Bond Fund

3. BlackRock Total Return Bond Fund L: Bond Fund

What is safest and if you wanted to preserve $50K, how would you allocate the money in these?

I’m hoping to be the only borrower on a home my parents would live on it and also be on the title. Both of them are self employed on a small family business that does not create much of a net income (30k a year after all deduction). They both have a ton of college loan debt that has been on a repayment plan and doubt will ever be done being paid since their minimum payment has been $0 for the last 10 years. They got into this debt as older adults (40 plus) trying to better themselves but didn’t end up with an actual degree they can use :( Because of their finances and job status they would simply not qualify for a home loan or even be able to be the borrower and me be the co-borrower- we tried (they have too much debt for my income to carry it in the income-to-debt %). They have saved for years and sold many things to come up with a 20% down payment so that I could buy the home as a non-resident of the home but it would count as a “investment property” in the bank world (which is why I would need a 20% down). My parents will pay the mortgage and all cost associated with the home (taxes, insurance, etc) because the home would ultimately the theirs. So I will “cut even”. The home final cost will be around $150,000 and so they will need to give $30,000 down. Here is my big issue, I have 4 kids. one of the is in college. Another one will be also in college in a 1.5 year. Will this count as an asset in the FAFSA? If so, it would be 30k asset because of the down payment made on the home? Is there any way to legally count it as my parent’s home and not mine? I would only be on the loans and title because there is not another way for my parents to be homeowners. My oldest currently qualifies for a significant amount of money through FAFSA and I would not be able to take a hit like that and possibly taking that away from her since I cannot meet that need. I am by no mean in a financial place I could afford to pay for her college (I will not go into detail) but I know I qualify for $150,000 mortgage since I have a good credit and worked my butt off to pay off all of my debt. Plus I already got pre-approved. How damaging and what liability will I have in my taxes? I really, really want to help my parents but I’m a bit worried on all implications this will bring. They left our country of origin 25 years ago to give us kids a better life in the US and because of that my brother and I were able to have an education. They left everything and everyone they loved back and had to start a new life here with all the difficulties a new language and new land brings and I really want to be able to do this for them. They sold their little home they had back in our country and that is one of the reasons they will have $ for a down payment.

Due to a string of clerical missteps, I've been getting severely underpaid since January. I just got my back pay (finally) this morning, and to be frank, it's more money than I've ever had in my life. It's north of 20k which is almost half of what I was making a year. In addition, my paycheck are (finally) going to be about double what they have been for the last year or so, and my salary is currently a lifetime high for me (just doubled essentially, sitting at around 80k/yr)

What I want to ask is this, how can I play this smart, what should I do with it all? I'm not used to having this much money sitting around and I don't want to be dumb and spend it all on coke and strippers. Any advice welcome. Thank you!

I am 56 and have an adequate government retirement pension. I have a 457 deferred compensation account with 35k an 403b with 5K and a 2% annual employer match and a newly open Roth IRA with $100 invested.

The 457 and 403b are investing in the Roth option. Considering, I have maybe 9-10 of work left with investment should I use to maximize my supplemental retirement?

I intend to invest the annual max.

Hello, everyone,

I’m a college student facing a challenging financial situation, and I’m reaching out for advice and insights from anyone who might have been in a similar position.

Last year, I took out a personal loan of $8,000 to start a small business, hoping it would help me gain experience and some financial independence. Unfortunately, the business didn’t work out as planned, and I now have a remaining debt of $3,000. I’ve managed to gather $300 from friends and my own savings, and I’m currently working part-time, which brings in about $150 each month. With the deadline approaching in the last week of November, I’m feeling a bit overwhelmed and looking for guidance on how to tackle this balance while keeping up with my studies.

If anyone has been in a similar situation, or has advice on budgeting, side hustles that fit a student schedule, or even just general debt management tips, I’d be really grateful for any ideas! I’m open to learning and am trying to stay positive, knowing that every bit of guidance could make a difference.

Thank you for taking the time to read this, and I’m looking forward to hearing any suggestions you may have!

I have a 30 year VA loan with Pennymac. Last year I asked if I could make a principal only payment. I was told I can't do that because a VA loan. I was told I would have to refill into a traditional 30 year mortgage to make a principal only payment. Has any ever made a principal only payment on a VA mortgage? Or can anyone tell me different.

Canadian student (25F) looking to start at an American medical school in 2025 where the cost of attendance is 120k USD a year (~160k CAD/year = ~650k by graduation). I will be looking at a line of credit (350k CAD) at 8% interest and then trying to take some funds from parents home equity (asset valued 1 mil). I have 45k from undergrad loans and about 50k in savings (25k emergency fund, 7k GIC, 20k TFSA ETF invested).

Does anyone have any advice or tips on how I can financially plan for this move or if it’s even sensible to take on so much debt? I will graduate by 30 and likely get my first attending salary at 34 if all goes as planned. I would like to save enough for retirement and I don’t have a very expensive lifestyle, I live below my means. How long should I expect to be in debt for and how can I responsibly tackle this financial risk?

If SP500 returns more than global why not invest in that?

Hello all, going to make this story short. I'm 24M. Just moved back in with my mom so as of now I am not paying rent as i was the past 4 years. I have no savings and am in debt. Just landed a 6 figure salary role that I'll be starting next month so soon I can save big and knock off thedebt.

5 months ago I made a STUPID decision and got a 2021 Toyota Camry XSE with 55k miles on it for $28k. Interest rate 15.5% making my monthly payment $663 a month. RIDICULOUS I know. My insurance is $388. $1,051 a month for a damn car. Makes me want to vomit typing it. I'll be able to make the payments with my new role with no other bills outside of groceries and my debt but i honestly want to possibly cut my monthly car expenses in half. What do you guys recommend in this situation? Some say suck it up and keep the car being in which its a toyota (i wont have car problems and once its paid off i still would have some years left on it).

Drop some advice !!

Shouldn't I have received my first interest payment (1 of 4) yesterday or today on this 70k investment? I've calculated and I use that term loosely that I should get 726.40 twice a year for two years but as of this evening Vanguard is showing nothing. TIA.

I am in my 20s. At my last job I started contributing to my first 401k. I have $25,500 in it. However, I started a government job a couple of months ago and government jobs don’t have 401k plans. I (plan) to make a career out of this. Should I pull out my 401k and invest it somewhere else or should I let it sit?

EDIT: Local government, not federal. No TSP but a 457.

I'm wondering whether I should prioritize paying down my brokerage debt (margin investing) or my mortgage. A couple things to consider:

I currently have 54K in brokerage margin debt, at around 6.05% interest. I took on this debt a long time ago when the interest was at 2-3%. Big mistake since the interest rate has rocketed in recent years. Well what's done is done. I'm trying to pay in down quickly even though I'm at no risk of a margin call. I believe this interest rate might come down but I don't bet on it going down significantly.

My mortgage is about 230K at 5.125% for the next 12 months and 6.125% for the remaining 29 years. This mortgage burden is between me and my GF. So needless to say any extra dollar I put in will benefit not just me.

What should I prioritize ? I'm aware this has an element of "relationship advice" to it. Something that I've been trying to talk to my gf about is the idea of retirement since it's very new to her. Her parents are wonderful people but I do believe they get taken advantage of by the financial system and they are working until they die basically. So my gf is very new to the idea of retiring or investing. Up until recently she believes the stock market is a ponzi scheme. I believe it is as well but to me you either play the game or you get left behind so I've been investing over 10 years whereas she's just starting out. I have no idea if her mindset will change.

As the title asks, we are in a bit of credit card debt due to stupid decisions and i was wondering if a debt transfer is a good idea? Either a loan or just another card i can consolidate everything onto to deal with less interest. What has been your experience with this?

I have been contributing to a 401(k) for my whole career. I have a 6% match and 2% additional contribution from my current employer. All of my retirement contributions are to my employer 401(k). I am 28 and have saved ~$100,000 in this account. Would it be smart to open a Roth IRA and contribute the maximum to try and have this money available earlier?

In round numbers, the table below is how it would break down. I would continue to automatically increase 401(k) contributions by 2% yearly until that is maxed. With this change I would have the same take home pay and still be able to receive the full benefit from my employer retirement plan.

Hello everyone,

My parents are looking to move out of state, they plan to sell their home. I live in an apartment about 45 minutes away, and work remote. Is there a way for them to pull their equity and have me move in and pay their mortgage as rent? Has anyone else done this? And will I gain any equity? Would I have to take ownership of the home? I cannot afford to buy their home for what they would otherwise sell it for (~$975k).

Also, they refinanced in 2020 and got a 2.65% , PITI monthly is 2400, my 1 bd 1 bath apartment is 2000.

Hi all, I'm in a hell of an issue here. I just got my check today, and the problem is if I pay all my bills that are coming in the next week so Ill have 32 bucks to my name. I don't know what to do anymore I'm broke broke and I don't wanna put my self further in debt but I may have to to survive here.

If I pay all my bills coming in the next week, I'll have 32 bucks to my name. I don't know what to do anymore. I'm broke and don't want to put myself further in debt.

I make roughly $44,000 a year before taxes, which comes out to $1493 a check. I paid rent( I have this split into two checks; otherwise, it would be my whole check), power, phone, and a PT gym bill that I'm ending after this month. On top of all that, my car is back in the shop for a $600-$1000 fix.

I would love all suggestions and help because, at this point, I'm at a loss.

If I make my first (let's say 1%) contribution to the Roth 401(k) before Jan 1 2025, does that count 2024 as the full first year toward the 5-year rule? Thanks

I use to save money in my main checking account because I didn't have the need to touch it. Here the past year or so, I have been paying majority of bills (65%-70% of my biweekly checks). But as far as the rest of my money, I have the need to spend it on things that would either be nice to have for work or personal use/ or spend it on just useless items. I have been telling myself to save for a bike for a year now. Well maybe 2 months ago I told myself I would pay my CC off and hardly use it but don't max it ($300 Credit limit). So I have been really careful about spending on it. I also opened a savings account and started investing money and stashing it in the savings. My only issue is... when I put into either of them 2 I don't leave any money to live on until next pay day. Which I end up touching my investments and also my savings. I mean I know I should have like 2k in my checking before I start trying to save and don't go below that 2k. But I just wanted to see if anyone has like an easy tip or trick to motivate me to not invest the next 4-5 or checks, but instead keep a chunk in my checking until I get there and then I can start.

Currently my IRA account is entirely invested into an S&P 500 fund, and my 401K is invested into a 2065 Target Date fund (I am 19). I am wondering what the advantages and disadvantages to each are? Am I doing it correctly or should I switch one or the other? Thanks!