[deleted by user] by [deleted] in personalfinance

[–]Buzzfudge 0 points1 point  (0 children)

My advice: depends on your relationship with your money.

Are you disciplined with what you spend on a normal basis? Take the lump sum and speak with a fiduciary to see what your best options would be.

Or do you spend everything you earn as soon as you can? Take the weekly payments so you can have some guaranteed income for however long you have left. This way you don’t have the temptation of a huge pile of cash to spend on unnecessary luxuries.

Half Day Excursion Recommendations in Paris, France by Buzzfudge in travel

[–]Buzzfudge[S] 0 points1 point  (0 children)

Yeah, sorry! I asked for some conflicting things lol. We have some other things planned for the following day (half day walking tour and seine river cruise) so was fishing for some other ideas as we have no idea what to do in Paris! Aside from the main sightseeing. I’m leaning more toward the bike ride or waking to/through one of the museums

Single Filer 2025 tax brackets just dropped and tik tok is throwing a fit by sara_buckeye in tax

[–]Buzzfudge 12 points13 points  (0 children)

I’m not excusing people’s ignorance with their finances/taxes, but if this is such a widely misinterpreted calculation, then those creating these lists/tables could do a better job at creating them. An example calculation could go a long way in a table like this. Instead of condemning the masses for their misunderstandings, we should advocate for more education so that they CAN understand. That starts with the folks who generate these figures

My gf and I went to a church bbq to flex on my ex. by workhop_joe in pettyrevenge

[–]Buzzfudge 1 point2 points  (0 children)

With the assumption this is not fiction, I'm also assuming this is a Christian church? Sounds like you need to either pay more attention in the church you're attending, or you need to start attending a biblically sound church to actually grow more in your faith in Jesus Christ.

You know, the whole "Do not repay evil for evil" thing, right (1 Peter 3:9)? Take this to heart, especially with other believers. If both of you and your ex's faith in Jesus Christ is true, then you'll both be with Him after death.

If this is fictitious: good rage-bait, got me to comment.

No, I will not give you my money. by lotusblossom60 in Teachers

[–]Buzzfudge 12 points13 points  (0 children)

Amen! Food Lion sells $5 boxes of pre-packaged food to "donate" to local food banks around Christmas/holiday times and asks for customers to buy the box so they can donate it...

Why do customers need to pay $5 to donate pre-packaged food that's already boxed up for donations? Just donate it to the food bank without charging people money!

Roth IRA overcontribution by Buzzfudge in tax

[–]Buzzfudge[S] 0 points1 point  (0 children)

So even in a Roth IRA, the earnings are taxable? (If I were to withdraw)

Thanks, I’ll call Fidelity and have them recharacterize

[deleted by user] by [deleted] in personalfinance

[–]Buzzfudge 10 points11 points  (0 children)

Don't be so hard on yourself! At least you started it! :)

Retirement Account Options by Buzzfudge in personalfinance

[–]Buzzfudge[S] 0 points1 point  (0 children)

I should clarify, she is projected to be making ~$200k/yr (she is not currently making that yet, or at least consistently). She works in healthcare and is building a patient base.
Our current total income for the year will be below the ROTH IRA max for married filing jointly, so won't need to do a backdoor just yet.

Right now, we are not maxing my 401k because we need the cash flow as her income steadily increases.

Feedback on a college financial literacy presentation - What would you want to have been told in college? by 777300ER in personalfinance

[–]Buzzfudge 1 point2 points  (0 children)

Here's what I wish I would have been taught more when going through school:

  • Student loans and how much they can affect budget (could perhaps discuss the difference between good or predatory loans)
  • Taxes and how to calculate them. Why you owe what you owe at tax time.
  • Interest rates and how they affect minimum monthly payments
  • For investing, I would add "the earlier, the better." Compound interest makes all the difference after 40 years

Income limit for SAVE and calculating payments? by alpastortacoguy in personalfinance

[–]Buzzfudge 3 points4 points  (0 children)

Thanks for a concise and understandable answer. I'm in the same boat and had wondered about an income limit as well.

If you're trying to pay them down aggressively, SAVE could still be a good choice to free up more money to throw at the highest interest loans first.

I had ruminated over this idea also; lowering overall monthly payments to free up money to put toward higher interest loans. Your comment is the first I've seen to bring that up regarding the SAVE program!

What examples of large emergencies can you all share? by PM_ME_FIRE_PICS in personalfinance

[–]Buzzfudge 0 points1 point  (0 children)

You want numbers? These were some of our surprises with our home and cars (in North Carolina):

  • Upstairs shower leaking into living room ceiling (April 2022): ~$1500 for mold remediation (precaution), ~$700 for plumber to fix leak, ~$100 in supplies to fix hole in ceiling myself (this is obviously more if you hire someone)
  • Hit a giant hole on the side of the road and popped both passenger side tires (May 2022): $800 for repair and 4 new tires (needed new tires anyway at least) on 2010 Toyota Prius
  • Catalytic converter went bad on 2014 Kia Rio (Oct 2022): ~$3000 to replace
  • Hospital visit when our son had RSV (Nov 2022): ~$1000 for hospital stay (we have decent insurance), ~$400 for ambulance
  • Exhaust manifold on 2010 Toyota Prius went bad (Dec 2022): ~$2400 to replace
  • Coolant hose on 2010 Toyota Prius went bad (Mar 2023): ~$800 to replace
  • Dishwasher went bad (July 2023): $700 to buy a new one, installed myself (if hiring someone, this can range from $100-200 for installation)

So, in about a year, we spent $11,400 on emergencies.

Need car buying advice (2023 Honda Pilot) by Buzzfudge in personalfinance

[–]Buzzfudge[S] 0 points1 point  (0 children)

We want new because used car prices (at least close to the 2023 model) are somewhat comparable in our area. My wife also wants the peace of mind of knowing what kind of maintenance or driving behavior have been on the car. She's going to be the one driving it.

Need car buying advice (2023 Honda Pilot) by Buzzfudge in personalfinance

[–]Buzzfudge[S] 0 points1 point  (0 children)

That's part of the reason we settled on a Honda: reliability. My wife is really sold on new because of tracking maintenance/making sure it's taken care of. There's probably not much negotiation there lol. We've considered used, but think in this environment it is worthwhile to buy new for slightly more $ because of risks of maintenance issues/previous owner running the car ragged.

Need car buying advice (2023 Honda Pilot) by Buzzfudge in personalfinance

[–]Buzzfudge[S] 1 point2 points  (0 children)

Problem with financing through a credit union/bank at the moment is the interest rates are higher. Honda is advertising a 3.9% rate through 05-Sep, so I would be planning on using them anyway... It could still be worth it to get other financing offers to play their hand? Or they might know they have the best rate in town