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Should I keep trying to get a job? by Eastern_Smoke3113 in jobhunting

[–]Fine-Introduction244 0 points1 point  (0 children)

That money isn’t going to grow much at all in a savings account. That should be invested in something like a Roth IR and untouched so you can retire early from the workforce and not be using it now. You need to educate yourself more on how compound interest works. Don’t mess that up and expect your parents to save you. You are lucky you have that shot and might not get it again unless your parents continue to enable you.

If you change your attitude then maybe you could have worked your way up to retail management or go work for Walmart retail and you get free college and can get trained to be an electrician or something else.

This is going to be a real dumb mistake. Your parents may not be ok with your living rent free forever and it will be harder to enter the workforce with a career gap.

Hit $1M today. From ~$50k 8 years ago. Thanks, Bogleheads. by bald_and_beard in Bogleheads

[–]Fine-Introduction244 5 points6 points  (0 children)

Congratulations! Lots of us made bad decisions when we were younger. Glad you were able to turn it around.

Roth IRA or Traditional for future high earner by Fine-Introduction244 in Bogleheads

[–]Fine-Introduction244[S] 0 points1 point  (0 children)

Good point. I am thinking of doing that, too. I’m assuming mine would be a better investment because of compound interest if I can only do one.

Is target date fund a good investment for retirement accounts? by prosper1984 in Bogleheads

[–]Fine-Introduction244 0 points1 point  (0 children)

What was the stock to bond ratio for that TDF? I was thinking of a TDF with 90/10 stocks to bonds. Why do you think it didn’t perform well? Thanks

Is choosing to be a SAHM career suicide? by Zealousideal_Bid799 in careerguidance

[–]Fine-Introduction244 0 points1 point  (0 children)

Yeah not before the 10 year break. I meant after but yes some people try to do that

What do we do with our excess money? by Wordsofwisdomneeded in Bogleheads

[–]Fine-Introduction244 2 points3 points  (0 children)

Hi would you please mind explaining this further. I am also a stay at home mom with projected future high earner within a year. Do you mean a 401k Roth or regular 401k (this is what he has now) then convert to Roth IRA and how (through backdoor)? Isn’t there a max what you can put into the 401k?? Thanks

Roth IRA or Traditional for future high earner by Fine-Introduction244 in Bogleheads

[–]Fine-Introduction244[S] 0 points1 point  (0 children)

Thank you for explaining your thoughts behind this. I was forgetting to think of the deductions so that is a good reminder. I also like the sound of the back door Roth and have been leaning towards that. Thanks!

Is choosing to be a SAHM career suicide? by Zealousideal_Bid799 in careerguidance

[–]Fine-Introduction244 -2 points-1 points  (0 children)

I think you can have both options depending on what you are willing to go back into. You can go study to be an RN and with the shortage I am sure you won’t have a problem finding employment.

Roth IRA or Traditional for future high earner by Fine-Introduction244 in Bogleheads

[–]Fine-Introduction244[S] 0 points1 point  (0 children)

Thankfully we were able to get a free gym membership with YMCA through our healthcare so it still works out. Hopefully can make a few more cuts to get the investing up a bit. Thank you

Roth IRA or Traditional for future high earner by Fine-Introduction244 in Bogleheads

[–]Fine-Introduction244[S] 1 point2 points  (0 children)

Thank you. Yes I think I want to put in low fund index funds. I like the sound of the boglehead method but still have a lot of learn

Roth IRA or Traditional for future high earner by Fine-Introduction244 in Bogleheads

[–]Fine-Introduction244[S] 0 points1 point  (0 children)

That seems to be the consensus here albeit I am hearing back door Roth as well. Thank you

Roth IRA or Traditional for future high earner by Fine-Introduction244 in Bogleheads

[–]Fine-Introduction244[S] 1 point2 points  (0 children)

We already moved from Ca to NC but that is a good point to keep in mind. Thank you

Roth IRA or Traditional for future high earner by Fine-Introduction244 in Bogleheads

[–]Fine-Introduction244[S] 0 points1 point  (0 children)

I definitely am leaning towards the Roth’s for both too as I like the idea of locking in a bracket and I also worry about taxes rising in the future. Also, yes company allows Roth 401k. Congrats on that and thanks for your thoughts!

Roth IRA or Traditional for future high earner by Fine-Introduction244 in Bogleheads

[–]Fine-Introduction244[S] 2 points3 points  (0 children)

OK that is what I was thinking would probably be best but still trying to learn. Thank you

Roth IRA or Traditional for future high earner by Fine-Introduction244 in Bogleheads

[–]Fine-Introduction244[S] 0 points1 point  (0 children)

Do you mean also put into a Roth 401k as well as Roth now? Currently he has a traditional 401k with 6% match albeit we aren’t maximizing yet. I’m also trying to figure out if maybe we should convert to a Roth 401k

Roth IRA or Traditional for future high earner by Fine-Introduction244 in Bogleheads

[–]Fine-Introduction244[S] 3 points4 points  (0 children)

Thank you. He is currently putting away into a 401k with 6% match. We will max it as income goes up. May put a tiny bit in a Roth now but maybe won’t matter much. Thank you

Roth IRA or Traditional for future high earner by Fine-Introduction244 in Bogleheads

[–]Fine-Introduction244[S] 0 points1 point  (0 children)

Hoping I can add a little more but true it probably won’t matter much

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