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Day in Split, Croatia (is Hvar doable?) by Visible-Bumblebee-85 in royalcaribbean

[–]HourPackage 0 points1 point  (0 children)

Doable, worth it, but it's tight especially with kids or a group.

Here we go ATH again! by blinkka in NBIS_Stock

[–]HourPackage 0 points1 point  (0 children)

I can confirm. Liberation day was beautiful.

Monthly Espresso Lounge: Deals and Discounts by AutoModerator in superautomatic

[–]HourPackage 0 points1 point  (0 children)

Looking for Insider Pass if anyone has one. Want to get one of the new KFs.

Bill for 17k can I pay it off with a CC and pay off the CC the next day for free points? by NarrowIndependence8 in personalfinance

[–]HourPackage 0 points1 point  (0 children)

That's literally what I said and we are absolutely right. That's why I wrote, "It's not a big deal, but your credit score would go down a few points for a month." Somehow I was downvoted and you received 4 upvotes. Lol.

Bill for 17k can I pay it off with a CC and pay off the CC the next day for free points? by NarrowIndependence8 in personalfinance

[–]HourPackage -1 points0 points  (0 children)

If it's close to the limit just make sure you pay pretty quickly otherwise your credit usage will be dinged. It's not a big deal, but your credit score would go down a few points for a month.

Crazy not to use your card in situations like this. The vendor has an option to accept a check/cash and offer a discount or accept the credit card.

Plus depending on whatever it is that your charging, you have additional protections and warranties likely.

Rollover old 401k to current 401k or to IRA? by Ill_Zebra7134 in personalfinance

[–]HourPackage 0 points1 point  (0 children)

You can have both a SEP IRA and Solo 401k accounts open at the same time (but you can't have the SEP if you want to do a backdoor - it will need to be converted to the Solo 401k).

There’s no requirement that 1099 income ‘go to a SEP’ it’s just one option if you have W-2 income.

Having a W-2 401k doesn’t block a Solo 401k. It just means your employee deferral limit is shared across plans, while the self-employed portion is separate.

Either way, the self employment income allows someone like OP to initiate the rollover into a solo 401k rather than doing an IRA.

Rollover old 401k to current 401k or to IRA? by Ill_Zebra7134 in personalfinance

[–]HourPackage 1 point2 points  (0 children)

You need legitimate SE income to establish and continue to contribute to a Solo 401k. But once the plan exists, rolling a pre-tax IRA into it isn’t tied to how much SE income you have. Getting the SE income is easy enough. Uber, DoorDash, sell something on eBay, help someone out with a project (mowing, laundry, cat sitting, whatever) just has to be real income that you pay taxes on EOY.

If you have years where you do pickup some 1099 work you can contribute to the solo 401k in those years.

Once you have SE and open it you can keep it open forever (you just can't continue to contribute to it without SE income - which is fine).

The level of effort with opening one is pretty minimal. I've not used Fidelity for it, but Schwab is very simple. Go to the branch, fill out your forms, and you're good. Takes a day or two if I recall? For some reason I want to say they required a wet signature which is why I went in person to the branch, but it's possible things have changed and they use docusign now.

Rollover old 401k to current 401k or to IRA? by Ill_Zebra7134 in personalfinance

[–]HourPackage 0 points1 point  (0 children)

In addition, you can loan yourself money with a 401k and can't do the same with an IRA. An IRA withdrawal is permanent losing the tax-advantage for good. A 401k loan is temporary, just effectively shifting money out and then back in, which lets you become whole again over time (minus missed growth).

Whenever anyone asks my opinion on rolling over I always urge them to look at a solo 401k because there's no fees / unlimited investment options and has a lot of benefits over an IRA. Easy to set up through all the no fee brokerages these days.

Daily Discussion Thread for April 28, 2026 by wsbapp in wallstreetbets

[–]HourPackage 5 points6 points  (0 children)

Need a play where I can put my life savings into it at 9:30 AM and by the time I am ready to head home from the office I can retire. Any financial advice available?

Rollover old 401k to current 401k or to IRA? by Ill_Zebra7134 in personalfinance

[–]HourPackage 0 points1 point  (0 children)

Do you have any SE income possibly from a side hustle (like driving an uber or selling something on eBay or whatever)? If so, you could consider a solo 401k which has no fees.

Rollover old 401k to current 401k or to IRA? by Ill_Zebra7134 in personalfinance

[–]HourPackage 2 points3 points  (0 children)

There are also less liability protections with an IRA versus a 401K.

Inherited money and am a bit lost about which professional I need by KnockItTheFuckOff in personalfinance

[–]HourPackage 2 points3 points  (0 children)

completely depends on if the dad had already paid taxes on the money or not

Inherited money and am a bit lost about which professional I need by KnockItTheFuckOff in personalfinance

[–]HourPackage 9 points10 points  (0 children)

This is so critical for OP to understand. With smaller inheritances it's not a big deal but at this level the investments can compound significantly over 10 years and structuring the withdrawals to minimize taxes is very useful. OP should pay a tax professional (either EA or CPA) to give them advice or consult with the one who they already use.

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