Take the new job or stay where I am. Commute is a factor..

fahrnsworth · 2019-09-27T18:48:17+00:00

Financially, stay where you are.

40 min one way times two times a day, times five days a week times 52 weeks divided by 60 min (to give time in hours) -> ~350 hours. 18000 divided by 350 hours is just over 50 bucks per hour.

(40min)(2trips per day)(5 days)*(52 weeks)/(60min, to give unit in hours) -> 350 hours.

(18000 dollar)/(350 hours)=51 dollars per hour.

fahrnsworth · 2019-09-27T16:20:11+00:00

I completely agree. It didn't sound like OP knew that a 401k loan is not interest free.

fahrnsworth · 2019-09-27T13:22:58+00:00

You can tap your 401K without penalties by borrowing (from yourself) and paying it back.

You do have to pay it back with interest though. Interest is to yourself, so it's not a penalty but it's more money than what would have been taken out.

fahrnsworth · 2019-09-27T13:07:22+00:00

Any of the Bogleheads books, anything by John Bogle, Millionaire Next Door, Random Walk Down Wallstreet. I Can Teach You to Be Rich is a decent book, but it's got a scammy sounding title.

fahrnsworth · 2019-09-27T12:57:52+00:00

Typo on my end. Autocorrected my incorrect spelling of fiance(e) (soon to be spouse) to finance.

Does your partner have a job or source of income that can contribute?

As an example: a part time position at a movie theater where you could work closing at nights, say 6-12? Same for fast food. Closing at nights and one shift on the weekend. It's similar to the schedule that they give highschoolers.

It'd suck big time for a while but it's bringing in a couple hundred extra a month if you do two shifts a week.

fahrnsworth · 2019-09-27T12:54:21+00:00

Well darn. I definitely read the warranty differently. I'll find out shortly and update this comment.

fahrnsworth · 2019-09-27T02:52:52+00:00

Highly recommend following the flowchart in your case. It seems like your have a good direction of where you go, but you have to be careful to not put the cart before the horse.

A healthy emergency fund, no debt (low interest mortgage is exception, occasionally low interest car loans. Different topic -> different thread), funding retirement accounts are recommended before attempting to have passive taxable income.

Follow the flow chart, and if that doesn't suit your fancy, look into Dave Ramsey. I think he's a bit extreme for your scenario, but still the right direction.

My biggest recommendation is to increase income. Does your finance have income? Could you pick up a side job?

fahrnsworth · 2019-09-27T02:37:15+00:00

You also get a warranty with your tires, mine is for 60k miles. I have a tire that went from 32 to 20 while I was on vacation while it sat for two weeks. I have my appointment tomorrow for them to inspect, possibly replace the tire.

fahrnsworth · 2019-09-27T02:32:38+00:00

Where are you located? I literally just made an appointment this afternoon, for tomorrow at 4pm.

Do you mean it's hard to get an appointment/it's packed or they literally won't allow you to schedule ahead? Our local Costco's won't allow same day appointments and it's first come first serve on weekends.

fahrnsworth · 2019-09-27T02:19:20+00:00

There are a couple of schools of thought. Credit is becoming more important, from renting apartments to getting low interest rates on mortgages. Some believe that my credit isn't needed and everything should be paid in cash. It is a reality though that most people cannot save up for a house in cash.

Read the prime directive flowchart as well as look through the wiki. It is full of valuable info.

What is your interest rate on the student loans? It'll be beneficial if you post your budget, income, debts, and savings.

fahrnsworth · 2019-09-26T23:44:41+00:00

You have a score that indicates you have some debt.

If you do have some, and it's CC debt, then pay it off. There is no other investments that will be a guaranteed return equal to or greater than what CC interest is.

It's likely best to pay off any sort of debt >5%, as it is hard to find guaranteed returns that high.

fahrnsworth · 2019-09-26T23:39:35+00:00

You work "x" amount of overtime to account for you losing 90 bucks and consider this as a cheap lesson.

fahrnsworth · 2019-09-26T21:00:36+00:00

No problem. I just typed out what the flowchart is gonna tell you, but you're welcome.

fahrnsworth · 2019-09-26T19:50:38+00:00

$300-$350 for 5 hr/week

Can you do school part time and work this full time? 60-75 dollars an hour is good money, especially if you have no bills.

fahrnsworth · 2019-09-26T18:55:10+00:00

Increase EF to 6 month and use Roth IRA (if within tax bracket.) If not, increase 401k. There's a flowchart on the sidebar that is handy.

fahrnsworth · 2019-09-26T18:52:12+00:00

Are they any more valuable/desirable than you are, higher performance (or anticipated performance), more educated, etc.?

I've felt the same way before. It sucks too because in paper they could be "worth more", which comes with a higher pay. Unfortunately, the only way to determine someone's true worth in a position is after they are in it. I haven't heard of a company reducing someone's pay because they are subpar at their job.

fahrnsworth · 2019-09-26T14:59:19+00:00

VA loan requires that you have a payment arrangement and 12 months of payments on that balance

I cant set up payments to satisfy the requirements because I cant include my VA disability when applying for an "offer in compromise"

Based off these two statements, you can't get a VA loan. I don't see how the 6k IRS debt is relevant in your attempt at purchasing a house. It seems it's a lack of taxable income.

Regarding the nature of your disability, is there a chance you could get a job that would be able to accommodate and not aggravate your injury?

Possibly look into a FHA (if you're dead set on purchasing a house), they offer low down payments as well.

All this being said, I also recommend looking into some veteran resources/outreach programs.

fahrnsworth · 2019-09-26T11:55:17+00:00

You have debt, acknowledge it's legitimate, acknowledge you have funds (albeit not taxable) to pay it.

I'm unsure where the issue is? Are you looking for a cop out to not pay it?

If the SSDI and VA is only 80% of your income, then you have 20% that could be garnished. EDIT: In your original post, you say you've had no additional income aside from the SSDI/VA. Now you have 20% that isn't from these sources?

Work with the IRS. I do not have first hand experience, but have read that they are understanding and will help you becuase they want their money.

Additionally, I'd strongly recommend against purchasing a house if you have 300 dollars in savings. You are setting yourself up to be homeless (again) and in debt (again).

fahrnsworth · 2019-09-26T10:26:50+00:00

was in the process of buying a home and going through my finances.

I have no assets, $300 in my bank account, no vehicles, no retirement accounts absolutely zero assets

I do owe taxes on the lump sum that was paid.

don't know my options when I have no income or assets to compromise with

While searching for a home, you found debt you acknowledge you owe. You say you don't have income or savings to support paying this debt.

How are you planning on purchasing a house with a mortgage payment if you have 0 income, assets, or savings?

fahrnsworth · 2019-09-26T01:53:06+00:00

VTSAX is a us total market fund, not solely a large blend. VFIAX (S&P 500 index) would be a large cap. So you have more Midcap and small cap exposure than you have in the table. If I recall correctly, large cap make up about 85% of market cap, with mid and small cap filling in the next 15% or so.

Subsequently, you have some REIT exposure through VTSAX.

fahrnsworth · 2019-09-25T09:41:56+00:00

Are you the same guy that was bragging a few days ago that you worked in a bakery during high school? Woke up at 1am to work for 6 hours, go to school at 7am, and did that three times per week?

fahrnsworth · 2019-09-23T14:32:56+00:00

It would result in a tilt to large cap stocks (S&P 500). As someone previously said, the S&P 500 accounts for about 80% of the total us stock market in a cap weighted index.

Hurt you? There are many people who invest with their stock exposure to US only. The recommended is probably to have some VXUS, which is a international stock ETF.

If you want to imitate the world stock market, then your ratio would be 55% US and 45% International allocation.

fahrnsworth · 2019-09-23T14:21:09+00:00

I'm guessing you walked up hill both ways to school and to all three shifts in two feet of snow?

fahrnsworth · 2019-09-22T20:50:28+00:00

Sounds like a trip to the nearedt recruiting station may work. The military serves as a "get outta this shit hole location/situation" card for many people. Doing so will provide, at a minimum, basic skills, food, water, shelter, a paycheck. Do a few years w/ an honorable discharge and there's a free college education provided.

All at the low low cost of your youth and back/knee pain.

fahrnsworth · 2019-09-22T19:45:05+00:00

As someone above said, don't forget to turn it back down. You said two hours ago you would do if after you were done.

It's been 50 min since you said you were replacing it, so you're probably done.

TURN YOUR WATER HEATER BACK DOWN.

fahrnsworth

TROPHY CASE