financial planning

Good evening, Reddit. I'm a 32M and I'm married to a wonderful 30F. We are doing OK financially, but I think we will face an inevitable challenge in assisting my Mother in her retirement later in life. On the matter of supporting parents financially, there's likely differing opinions within...

Firstly, thank you to this community for your advice and perspective. It’s a continued pleasure to be able to read and learn from the experience of this community. Following are my current positions: ——— Equity ——— Edward Jones: $64k HYSA: $123k Schwab: $10k 401K: $13k Investment Property...

I want to buy a home and get married in the next five years. But I also want to put some money in a roth IRA. Can I do both? Or should I just keep saving normally for a down payment etc.

I owe 280k on my 3.8 fixed rate 30 yr mortgage. Would paying the max yearly lump sum be wise, or investing? I am a single Mom, just divorced and new to financial planning. I can't pay off my mortgage but I could pay a 10% lump sum this year. If investing is wise, what sort of investment would...

4.5 years ago my wife and I (39 at the time) decided we needed to have a money manager. We're not gazillionaires but we have good salaries, save a lot and got tired of thinking about money. That's not our passion and we hired an FA to outsource that aspect of our lives. There's lots of...

So I have 18k saved with my credit union and an additional 3k sitting in stocks (mostly ETFs with some large tech companies). Ive been working in my industry for a little over a year and I make ~85k. I still live at home with my parents (24 y/o) and I’m saving for a house but I’m not in a rush...

I have been looking for an easy guide for how prioritize saving and investing for someone making between 50k & 1M. Unfortunately I have never been able to find something something simple. The idea for my list is that you should complete each step until you run out of spare savings. Higher...

46m/47f Household income: ~ $180k L/MCOL Investments: Tax deferred: $755K Roth: $275K Taxable: $67K Contributing: $45.5k to tax deferred and $12k Roth this year Morgtage: $50K outstanding @2.75 (7.5 years remaining) / House value ~ $225k Car Loans: $6510 @ 2.29% (15 months remaining) /...

I have a few questions and I may help a few people with my findings. I'm an American (Missouri resident), and I currently live in Italy. I'm moving with my family to Kansas City (Kansas) shortly after I turn 18 (within a few weeks). I'm in a not-so-great situation with my family and I'm trying...

Need some help with investing had my 401k with vanguard for about a year and when I started it I cant even remember why I picked my portfolio to be 100% AB Large Cap Growth Z (APGZX) I contribute close to 10% a year and want to make sure my money is being used best at a young age here are my...

Thank you in advance for your opinions. My wife recently accepted a new position that pays her 30% less than her previous high stress, no flexibility job. I knew things were going to be tight, and I had thought I had figured out what our new budget would be but I was off. Here are the...

So I bought this restaurant with a friend of mine about 2 years ago. The premise was that I’d be the operating partner and I took a small salary (60k) to run this and help us expand to a new location. Going into this I was very financially well positioned but the paycut and us not taking a...

I opened a new traditional IRA. I rolled over two old 401k from previous employers. Now the money has been successfully moved my IRA. What is next? I know this sounds silly but I feel there is a next step but I don’t see anything obvious. Don’t I choose what the IRA is invested in?? I know I’ve...

My 70 y/o mother is creating a trust for her children and she wants to transfer some shares of First of Long Island Corp. to us that were gifted to her a long time ago. It seems like a sentimental stock (if there is such a thing) and I'm trying to decide if I should suggest that it be moved to a...

Emancipated at 15 I was emancipated at 15 (illegally) the courts just got tired of me I guess. Never checked if I had a job, somewhere to live, etc. My mom moved out of state while I was in juvenile detention. Came back to the state for my court date to agree to this emancipation. Same day it...

Hi all! Me and my wife (somewhere around $450k income combined) have been investing very aggressively (see attached image) while we work in our high stress jobs in order to prepare for financial security (and hopefully still a somewhat early retirement) through big upcoming changes that I expect...

I posted this earlier but left out some details so here’s everything I can think of that’s pertinent. I’m getting an inheritance of $35,000 within the next month. I’m active duty military and have certain benefits regarding credit cards and their APRs so the debts I currently have are very low...

Hi! I was wondering what other ways to maximize retirement or even what else to do at this point. I have looked through the flowchart and I checked a lot of the boxes. (No plans to buy house in the near future, maybe a M.B.A at some point but the goal is an in-state school, 0 plans to retire...

I just found out that my Schwab 401(k) has a non-Roth "after-tax" arrangement and need help understanding it. Last year I ended up contributing beyond 19.5k and rather than getting cut-off at the IRS limit the small extra unexpectedly ended up in this "after-tax" portion of my 401(k) plan. A...

I have about $40k in liquid funds in a HYSA earning 4.35% interest. Currently have no debt - no school debt, CC debt, car loan, no mortgage, etc. Making around $75k a year. Net worth about $65k including 401k and Roth IRA. Anyway, I have been maxing out my Roth IRA in 2022 and 2023 and...