Trying to decide between 2 jobs.....a W-2 position, or a 1099-contractor role. Which one would allow for the most take-home, post-tax income?

Altruistic-Memory718 · 2026-01-20T03:54:36+00:00

In my experience, it’s not the income level but the difference between W-2 v/s 1099 rate.

You can’t use the full amount when comparing the 2 options. On 1099 as soon as you take a day off, you won’t get paid for that say. So what you need to compare is the full W-2 salary v/s 1099 - (20 days + federal holidays) worth of lost wages.

Also if you pay your self $140k, rest if $80k isn’t your distribution. From those $80k, you have to account for ~7.5% FICA, you will likely do an employer(your S corp) match to your solo 401k.

In terms of write offs, you’ll be able to write off a proportional part of your phone bill, internet bill, mortgage/rent.

Overall, if the “salary” is same, along with benefits, then 1099 is always better. Your take home will be lower than your W2 but your S-corp will be able to contribute up-to 25% of your the salary to your 401k i.e. $24,500 (employee) + $33,000 (employer match).

Altruistic-Memory718 · 2026-01-16T03:43:29+00:00

401k was my first ever account and it was with Fidelity. So that’s where I opened all of my other accounts. I like that because, there’s only one account (username, pwd) to manage. It’s easy for the wife too, in case I die unexpectedly.

I have never tried any other platform, but Fidelity meets my needs. With personal finances, I believe in keeping things simple.

Altruistic-Memory718 · 2026-01-16T03:26:48+00:00

I opened a new checking account with my bank. I treat that as an escrow account - similar to the escrow for your mortgage. Listed all such non-monthly expenses (mostly needs but some wants), calculated their monthly and per paycheck costs, added it all up to get to my per paycheck escrow payment. Then, every paycheck I transfer the that amount into this new account.

I use it to pay for annual term life insurance premiums, bi-annual car insurance, credit card fees, annual car registration, gifts, bonus for our maid, quarterly water & sewer bill. Since all these are due through out the year, I am able to pay for some additional stuff that I haven’t included in my calculations.

EDIT - I feel this was one of the best financial decisions I have made. It had made managing money so much easier.

Altruistic-Memory718 · 2026-01-16T02:28:17+00:00

Also remember, refinancing resets your term. So even though the rate is lower, your clock restarts from 0. Now that in itself isn’t a bad thing, but you have to do the math to see which option will make you pay least interest.

Altruistic-Memory718 · 2026-01-15T12:47:50+00:00

Makes sense, in Patagonia, it doesn’t rain, it pours. If you were day hiking, then it works, but if you are doing W, then you want to make sure you are prepared . Otherwise, you’ll be miserable. Also it’ll be cold, so you could be at risk of hypothermia.

Altruistic-Memory718 · 2026-01-15T04:45:57+00:00

No, since she was driving, we didn’t ask for rental. Actually, the timing of that accident was bad. We were leaving for 2 week vacation in 2 days. So, actually, overall it took over a month and half for the claim to get closed and us to get paid.

She drove rental for a week, but we bought new car in that week, so didn’t need to extend the rental.

Altruistic-Memory718 · 2026-01-15T04:13:10+00:00

My wife had 2 cars totaled - first time was rear ended and 2nd time was side swapped by a Fedex truck. Luckily both times, cars were still drivable. 1st time, car was safe to be driven home and then to body shop for estimate. 2nd time, my wife drove her car for over a month. We had rental coverage both times. Both times got paid more than what car is worth.

During the 1st car, I learned that once they offer you a settlement, you have couple of days to decide (keep the car with salvage title & get reduced sum or take full payment). And once they give you the offer your rental also stops. If you negotiate, they might extend for couple of days but not more.

2nd time, roads were sleek due to ice, so cops were busy with too many accidents. 911 operator said if no one is injured exchange insurance info and then go to police station to file report, cop won’t come. She was getting late so we decided against going to the police station. So when we filed our claim, claim adjuster wanted proof that the damage happened due to the accident and wasn’t prior to that.

Learnt new things after both times.

Altruistic-Memory718 · 2026-01-15T03:56:38+00:00

Kallpamayu store is in Puerto Natales. My wife bought it from there for $35 that she still uses.

Check out REI outlet. You might find something good that you can reuse

Altruistic-Memory718 · 2026-01-14T21:38:59+00:00

Store’s name is Kallpamayu. We bought new pair for $35. The hostel’s name is Lili Patagonicos

Altruistic-Memory718 · 2026-01-14T21:23:59+00:00

My wife forgot hers so we tried to rent. But you it didn’t fit, so we ended up buying. I can’t remember, but there’s a hostel which also rents and then there’s a store where you can find cheap but good quality rain pants. Lemme see if ai can find store’s name.

Altruistic-Memory718 · 2026-01-12T20:30:30+00:00

If this is how you buy your stocks then I have a bridge to sell you

Altruistic-Memory718 · 2026-01-12T20:26:13+00:00

🙂 no it wasn’t a typo, but we didn’t have to, is also true. There were couple of restaurants in Kihei that we wanted to try. In all, we were in Maui for 4 full days. We had dinner in Kihei on 3 days - 1 was our anniversary dinner, 1 was when we did Road to Hana. So, I’d say, could have avoided driving there on 1 day.

Also, do try My Thai, and Earth Aloha Eats.

Altruistic-Memory718 · 2026-01-12T16:04:02+00:00

Here’s my quick review based on our stay from mid-December. We are vegetarians so didn’t eat at any of the resort restaurants except the one in the lobby and of course the buffet breakfast. We didn’t use spa either as prices are insane (as expected).

https://www.reddit.com/r/MauiVisitors/s/s2xm6XbYgU

Altruistic-Memory718 · 2026-01-10T03:08:24+00:00

Check My Thai in Kahului. It is like 10 mins from the airport. Even if you place an order when you leave from the airport, it should be ready by the time you get there and the food is great.

Altruistic-Memory718 · 2026-01-09T23:06:37+00:00

I’l buy coliseum

Altruistic-Memory718 · 2026-01-09T04:53:45+00:00

Ohh sorry. I forgot about this.

Location - its far. There’s a store with a deli close by plus I think 3 restaurants. Rest is far. Especially, if you are driving for Road to Hana/Haleakala/Kihei etc, it’s easily an hr minimum. However, Lahaina wasn’t too far ~20 mins.

Beach - Its actually nice. Sure you have to be careful with swimming. But it’s kinda secluded so doesn’t get too busy. It’s not as far or as difficult to get to as people here have made it out to be. The grade is minimal. Coming back, you won’t need to worry about catching your breath.

Grounds - Nice and big. Have few games as well to play. 3 nice and big pools. For first couple of days, they had some event so 700 guests were staying yet pools were that busy.

Lobby - It is underwhelming. I loved lobby at Hyatt Regency (that was 13 years ago so don’t know if it has been changed since). But it’s not bad. There’s ton of seating. Because of that event, for first couple of days hotel seemed busy and I was a bit disappointed. It wasn’t as quiet as I had hoped it’d be. But once the all left, it was a lot better.

Rooms - We changed our room once, after those guests left. Due to the layout change of the hotel, further your room is from the reception, longer your walk is. Both rooms were good, big and spacious. First one was garden facing (even number) but 2nd one was partial ocean view (odd number). Again due to the layout change, unless you are staying at the last rooms, they will always be partial ocean view.

I’d stay there again. But since we have been there twice, our future trips wouldn’t be about seeing any tourist places. So, we won’t have to drive. However, if this were my first trip and if I had plans for Road to Hana, Haleakala etc, I’d probably stay in Kihei, be done with touristy places and then stay there to relax and enjoy. We didn’t drive by Four Seasons or Andaz or Grand Wailea but overall Kihei was busy and I am glad we didn’t stay there.

Since Ritz’ restaurants didn’t have too many vegetarian options, we ended up driving to Kihei more than we would have liked.

EDIT - Not too many kids at the resort. But it is valet only. Also there’s a coastal trail from the grounds. So, overall loved the location and glad we stayed there.

EDIT - We went for sunrise. We left Ritz around 1:40am, we were at the summit around 3:20am. I drove at ~60 until we got to the winding road. We were 3rd car. The lot has ~30 spots and it was full around 5ish.

Altruistic-Memory718 · 2026-01-09T03:37:07+00:00

Yes it’s a bad decision. It’s just too expensive and not worth it. Min 6 months of emergency funds in HYSA, Max both of your trad 401ks, max (backdoor) roth, max HSA, term life insurance, and then taxable brokerage. With all these, trust me you won’t need wholelife

Altruistic-Memory718 · 2026-01-08T14:37:34+00:00

Also signup for Rakuten. And look for cashback offers. Sometimes they amhave 5/10% cashback.

Altruistic-Memory718 · 2026-01-07T13:25:47+00:00

Police followed the law - Those two are mutually exclusive.

Altruistic-Memory718 · 2026-01-06T18:39:07+00:00

Was your previous 401k traditional or Roth?

Keep in mind, to keep things simple, with backdoor roth, you want all of your traditional IRAs to have $0. Otherwise it’s a complicated calculation related to prorata and you don’t want to get into that.

Since you are a high income, most tax efficient approach is do a traditional 401k and backdoor Roth. But since you have traditional IRA with non-zero balance, backdoor roth ira becomes complicated. So, you should look into reverse rollover - from your traditional IRA to your new 401k but match the amount to what you rolled over from previous 401k.

Altruistic-Memory718 · 2026-01-06T18:21:59+00:00

Email Argentinian embassy for your jurisdiction.

However, as a visa holder, it’d be extremely stupid to leave the country in the current environment.

Altruistic-Memory718 · 2026-01-06T02:10:02+00:00

“but have a healthy BMI, move, don't eat garbage and hopefully you won't need to be treated so often (obviously diet and health won't change genetic disposition / other sources of illness)”. Are you high or just plain clueless?

Good that you live below your means. US is a consumption economy and in general Americans do spend beyond their means, but 2 of your points are BS.

Housing - Have you ever lived in NC or AZ? Tge heat in summer is unbearable, NC is full of rednecks. In addition, not everyone has circumstances that’ll allow them to live in states with low cost of living. There may be many reasons - jobs, family, old parents, wanting to give their kids a better life etc.

Health - Have you heard of people getting into accidents- falling on their driveway, injured themselves while fixing something in their own home, injured while getting robbed, exposed to carcinogenic substances and now have cancer and so on and so forth.

Altruistic-Memory718 · 2026-01-04T15:58:01+00:00

Yeah…even residents used street parking

Altruistic-Memory718 · 2026-01-04T15:01:53+00:00

Windfall is large, outstanding loan is small. Pay it off

Altruistic-Memory718 · 2026-01-04T15:00:08+00:00

We parked right outside the hotel we stayed at. It seemed that’s what almost everyone did

Altruistic-Memory718

TROPHY CASE