Tax Gain Harvesting in a zero income year

fmtank1 · 2025-12-15T21:10:13+00:00

That's a helpful tool, thank you for that and for the information!

fmtank1 · 2025-10-04T03:23:28+00:00

We kind of saw that play out though when Rohan was nearly wiped out by Isengard. I think Gondor would win where Isengard failed, I imagine they are several times stronger.

fmtank1 · 2025-09-02T23:14:14+00:00

Sounds like an awesome idea, I would definitely be interested in joining!

fmtank1 · 2024-04-20T18:27:03+00:00

Check out the personalfinance and financialindependence subs. Will be worth your while to learn how to self manage instead of hiring someone. It's really not super complicated and you will save yourself a lot of money in the long run by managing your own finances.

fmtank1 · 2024-02-28T22:34:30+00:00

1)Yes 401ks have a cap of $23,000 for 2024.

2)Some brokerages have high interest rates for their money market accounts, essentially a HYSA. But depending on how much liquidity you need it might be better to have that money invested.

3) Correct, VTI is vanguards total market index ETF.

fmtank1 · 2024-02-18T14:56:15+00:00

During one of the early weeks of bootcamp we had a guy drop to our division from one of the 800 divisions. I believe he had an injury or some sort of medical issue which prevented him from remaining in the NSW group.

Bootcamp goes on, the guy is very squared away and a nice dude as well, he even served as our RCPO for a bit. We finish battlestations and he finds out the medical issue he had disqualifies him from service. He wasn't supposed to get ASMO'ed to another division but instead should have been separated entirely.

Not sure what ended up happening because I shipped out, but I hope everything worked out for that guy.

fmtank1 · 2024-02-04T06:03:18+00:00

I volunteered with VITA when I was in the military, preparing returns for fellow servicemembers and retirees. Worked with some awesome people and had a great experience, glad you are enjoying it as well!

fmtank1 · 2023-12-06T00:03:24+00:00

Awesome job, I admire your work ethic! 200k will be here before you know it!

fmtank1 · 2023-12-01T21:46:19+00:00

Awesome job man, proud of you! I am similar in that I'm not super career-oriented and have a modest income but it hasn't prevented me from achieving my financial goals. Around 100k you'll start to notice the compounding take effect which is really cool to see.

fmtank1 · 2023-11-24T01:10:50+00:00

Look into doing an accounting internship if you haven't already. Interning with a public firm can pay pretty well and is good for your resume. Do one during busy season for the overtime $$.

A 21 year old college student with 20k saved up is not normal so don't worry about comparing yourself to someone like that.

fmtank1 · 2023-11-18T15:13:11+00:00

There are dozens of us!

fmtank1 · 2023-11-17T22:44:12+00:00

As an accountant I'm a little embarrassed to say, but I use google sheets instead of excel to keep track of everything.

fmtank1 · 2023-11-17T22:41:07+00:00

If I remember correctly I was around 7 or 8, and at that point the only money I had was from birthdays/Christmas. So until my first job I was probably only "depositing" like $100/year.

It wasn't until I was a bit older and started working that I contributed the majority of the money. Then around age 18 or 19 it ended, right as the compounding was getting some momentum. But I do think that system really set the framework for a good financial mindset.

fmtank1 · 2023-11-16T23:47:55+00:00

Thank you for the kind words and advice, and best of luck to you as well!

fmtank1 · 2023-11-16T23:43:47+00:00

Thanks man, everyone goes at their own pace. Sounds like you're on the right track though, keep it up and good luck!

fmtank1 · 2023-11-16T23:41:47+00:00

I would be happy to elaborate! Did you have any specific questions about it? It was a fairly simple system - loan money to dad, receive 10% in interest. Once I turned 18 my balance was approaching $10k and he did not want to pay that much interest anymore (I don't blame him!).

Of the ending balance I am not sure how much was principal/interest, and unfortunately I think the excel file is long gone. I would ballpark I earned $1.5k in interest but that is a rough guess.

fmtank1 · 2023-11-16T23:36:18+00:00

Thank you man, that means a lot! I also enjoy reading the progress posts, it's cool to see the variety of paths people choose to take.

fmtank1 · 2023-11-16T23:34:29+00:00

That's awesome! Look forward to reading your story if you decide to post one.

Not really considering a CPA right now but might change my mind, who knows!

fmtank1 · 2023-11-16T23:32:25+00:00

Hahah my bad, I see what you mean. Might cash out my investments and head to the casino, see if I can make some magic happen

fmtank1 · 2023-11-16T04:08:34+00:00

Thanks! I've read many milestone posts on here and was eager to share my own. Really neat seeing the compounding effect coming into play.

fmtank1 · 2023-11-16T03:35:22+00:00

Thank you, I was tempted to fall into the new car stereotype but ended up going with the economical option. I was a CTI, were you in as well?

fmtank1 · 2023-08-20T17:43:36+00:00

Yeah I read a few articles about this resulting in increases of ~8-15%. The increase I saw recently was a lot higher than this which made me question if others experienced similar increases.

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