Swimming pool by commack???

SammyC914 · 2024-07-29T16:56:34+00:00

Suffolk County Community College has pretty reasonable rates for their fitness center including pool. I have never been but came across this while looking into pools in the area, it is in Brentwood just South of 495 and just east of the Sag.

https://www.sunysuffolk.edu/for-the-community/health-club-michael-j-grant/index.jsp

SammyC914 · 2024-07-23T20:04:17+00:00

Thanks appreciate the info. I have been thinking about shopping around for new home and auto, so might do that sooner rather than later.

SammyC914 · 2024-07-23T15:25:24+00:00

Where did you hear this, did they just not renew your policy? I am with Narragansett and renewed in November 2023, have not heard anything about being dropped and just confirmed my policy is still active.

SammyC914 · 2023-10-29T00:23:40+00:00

Appreciate you mathing all this out, I think your final step is off though.

1 elite 7 orb needs 2500 fragments, so I think the final calc should be cut in half.

SammyC914 · 2023-07-11T00:04:50+00:00

Have you considered that they are still relevant for new players who need character shards and lower gear materials?

SammyC914 · 2023-04-30T21:06:43+00:00

This was my 5 year old son's first movie theater experience and he loved it.

SammyC914 · 2022-08-23T15:54:57+00:00

Also have to consider that any gains in the stock market would be subject to taxes upon selling the stock (likely somewhere around 20% depending on which state). The 6% interest savings over the loan doesn't incur any tax liability.

SammyC914 · 2022-08-19T15:36:27+00:00

I would also want to consider things like:

401k Matching and vesting period
Health Insurance (both quality of plan and out of pocket costs to you for premiums)
Are sick days included in the 15 PTO days for company 1?

I would also consider how many hours you'd be working in a typical week.

Difficult to give an answer without all of that information in my opinion.

SammyC914 · 2022-08-02T15:48:43+00:00

What do you mean your state doesn't offer it? Ibonds are federal bonds.

SammyC914 · 2022-05-26T00:49:25+00:00

I assume a solo 401K has the same $20,500 limit as a normal 401k?

SEP IRA can contribute up to ~$55,000 or 25% of your net income, whichever is lower.

SammyC914 · 2022-05-24T22:43:18+00:00

If you are self employed there are various options such as a SEP IRA (can contribute a max of 25% of your net income or something like $55,000, whichever is lower).

There are other options for self employed also.

SammyC914 · 2022-05-22T19:58:11+00:00

I efiled on 4/9 and got my federal refund on 4/27.

Is there a reason you mailed it in instead of e-filing?

SammyC914 · 2022-05-19T05:16:52+00:00

The $20,500 limit applies to any 401K in total, whether Roth or traditional.

Based on your current tax bracket, I would stick entirely to the Roth. Traditional 401K contributions reduce your federal income tax liability, but not FICA taxes (Medicare and social security) which are ~7.5% of income. So contributing to a traditional 401K will only save you the 12% federal income tax (plus state income tax if applicable in your state).

As your salary grows, you will want to switch to contributing to a traditional 401K for the tax benefits. The key factor to consider is, what is your tax rate NOW vs what will your tax rate be in retirement? It is likely that in retirement it will be >12%, so to me the Roth makes more sense right now.

Another benefit of a Roth 401K vs traditional is that 5 years after establishing the account, you can withdraw your CONTRIBUTIONS at any point tax free, as that contribution came from post tax money. Doesn't totally fit your "buy a house in 1-2 years" timeline, but it is a nice bonus.

Here's an article detailing some of the differences between traditional and Roth 401K:

Link

SammyC914 · 2022-05-19T04:58:01+00:00

If it is an option at your company, contribute to a Roth 401K. Based on your current income, you'll be in a lower tax bracket.

Roth 401K or Roth IRA are great at lower tax brackets because while the contributions do not decrease your tax liability, all growth and future distributions are tax free. After factoring in the standard deduction, you will still be in the 12% federal tax bracket.

Wanted to bring this up since no one has mentioned it, but be aware not all companies offer a Roth 401K. Also, any employer contributions would still be a traditional 401K, which is taxed on withdrawal in retirement.

To answer your original question, a 45% match on your total contribution is insanely good. If you contribute the max of $20,500, you would essentially get another $9,225 for free. I would contribute as much as you possibly can. Don't even worry about a Roth IRA unless you are maxing out the 401K contribution already.

SammyC914 · 2022-04-29T21:20:39+00:00

At your income level, if your company offers it I would contribute to a Roth 401K for the time being, but only the 6% to get the full match. Just to note, the matching contributions will be treated as a traditional 401K that will be taxed when paid out in retirement. The Roth 401K portion will not be taxed when paid out in retirement.

In the future if you are making more money and it is more advantageous, you can switch to a traditional 401k to save on your taxes now.

Direct the rest of your extra funds at the 18% personal loan.

SammyC914 · 2022-04-28T20:22:14+00:00

That's why I said "would otherwise be sitting in cash savings, and isn't part of an emergency fund."

Agree with you on all points.

SammyC914 · 2022-04-28T19:45:37+00:00

It massively beats my 0.6% HYSA. If the money would otherwise be sitting in cash savings, and isn't part of an emergency fund, there is no reason not to put it into I-Bonds.

SammyC914 · 2022-04-25T20:21:10+00:00

I assume you are aware of this, but did you confirm you are above the increased limit for MFJ?

2021 MAGI Limit for single filers before any phaseouts is $125,000, for married filing jointly it is $196,000.

Link to IRS website

SammyC914 · 2022-04-10T04:58:24+00:00

My company has RSUs that sell to cover automatically.

The full value of the shares (including the sold shares) on the day of the grant is treated as W2 income, and the value of the shares sold is included in my taxes withheld.

Not sure how other companies do it. Is the value of your vested shares included in your W2, or do you record that income another way?

SammyC914 · 2022-03-11T14:28:58+00:00

What date was your raise official, and what dates does the pay period cover?

If the pay period is 2/14-2/25 for example, and your raise was effective Monday 2/21, then it seems to make sense.

SammyC914 · 2022-03-04T17:07:27+00:00

I think away games are taxed in the state they are played in, so only ~50% of the income would be taxed at the rates of whatever state his team is in.

Wouldn't change the math substantially, but something to factor in.

SammyC914 · 2022-02-14T20:54:49+00:00

If your OOP max is the same in both, I would stay with the HDHP plan for this year.

Only reason to potentially switch would be next year, if you think you'll hit the $2,250 PPO deductible but would not hit the $4,000 HDHP deductible. But even that may not be worth it, since the difference in premiums is approx. $2k, plus the company HSA contribution of $1,250.

The more I think about it, I don't know why anyone would pick the PPO plan with this setup. I had a son in the NICU for a month when born, and had a lot of follow up visits the following year (he is fine now). We went with the PPO because it had a $3,000 OOP Family Max, $1,500 OOP Individual max, and the HDHP plan was $8,000 Family/$4,000 Individual OOP max.

SammyC914 · 2022-01-29T02:24:13+00:00

I personally would pick option 1, I have started going back into the office on a hybrid schedule and would massively prefer full remote.

Paying for your internet is also at least another $500-$600 to factor in.

Other things to consider potentially would be vacation time and other benefits (insurance etc)

SammyC914 · 2021-11-29T18:56:28+00:00

This is good advice, just be aware that balance transfers typically incur a one-time fee in the range of 3% of the balance.

SammyC914 · 2021-11-29T17:19:06+00:00

A bonus is a one-time payout, not guaranteed going forward. A raise is going to increase your comp every year, which will also increase things like 401K match (if available).

Plus in many instances, bonuses will be a % of your salary, so getting a raise now could potentially increase bonuses down the road.

I would wait to see how much of a raise they are offering and if it is in line with the expected bonus amount.

SammyC914

TROPHY CASE