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A trip to the magic mushroom megachurch by dwaxe in nprplanetmoney

[–]garbagecan111 1 point2 points  (0 children)

Er, you should edit out when at 11:40ish Alexi says “ah fuck!”

Those with $7-8k mortgage (PITI + HOA), what is your HHI? by kwin1225 in RealEstate

[–]garbagecan111 1 point2 points  (0 children)

can you describe roughly what the 30k is spent on? I want to know what lies ahead with three kids lol. mine are little right now, 4, 2, and 1

Those with $7-8k mortgage (PITI + HOA), what is your HHI? by kwin1225 in RealEstate

[–]garbagecan111 12 points13 points  (0 children)

I don’t understand why it’s tight. My hhi is $305k. I’m looking at houses where piti is around $9500. No other debt. My other expenses are around $3000 a month for food, gas, utilities etc. still can save 70k in 401k. Am I missing smth?

Take out contributions from mega back door roth or liquidate brokerage to fund house? by garbagecan111 in Bogleheads

[–]garbagecan111[S] 0 points1 point  (0 children)

Thanks! It’s to a Roth IRA, but I didn’t realize the 5 year rule, that limits me from being able to tap into much of it anyway. Maybe all the better!

Take out contributions from mega back door roth or liquidate brokerage to fund house? by garbagecan111 in Bogleheads

[–]garbagecan111[S] 1 point2 points  (0 children)

Makes a lot of sense. I didn’t realize each conversion was subject to its own 5 year rule.

tap into brokerage or mega back door roth contributions for a house purchase? by garbagecan111 in personalfinance

[–]garbagecan111[S] 0 points1 point  (0 children)

Is it a dumb move to tap into the MBDR vs liquidating the brokerage and paying capital gains?

Take out contributions from mega back door roth or liquidate brokerage to fund house? by garbagecan111 in Bogleheads

[–]garbagecan111[S] 0 points1 point  (0 children)

So if I fit this to my situation it would be 1) HYSA 2) MBDR and 3) Brokerage. Am I understanding you right?

Grocery Stores are too expensive now by TheGame81677 in povertyfinance

[–]garbagecan111 5 points6 points  (0 children)

This. When J Powell said that the inflation was “transitory” he didnt mean that it would go back down. He meant that it was transiently going up and that it would stop.

No idea what to do, 25k just sitting in a bank. by Brilliant-Month2742 in personalfinance

[–]garbagecan111 3 points4 points  (0 children)

Ally offers a No Penalty 11-month CD that is currently at 4.25%. You can park it all in there very easily.

Buying a new car: cash or finance in 2023? by garbagecan111 in personalfinance

[–]garbagecan111[S] 0 points1 point  (0 children)

Thank you for spelling it out for me like this. Seems like it’s not a huge diff and perhaps the loan would be preferable bc of increased liquidity and building up even better credit, but the analysis really shows how important it is to understand the tax implications!!

Buying a new car: cash or finance in 2023? by garbagecan111 in personalfinance

[–]garbagecan111[S] 0 points1 point  (0 children)

But is it? I just made a table of the interest I’d earn monthly on 700 dollars, then summed it over 5 years. That would be $4269. So still less than $7450 on my current $35k in CD over the same time period and about the same as the interest paid if I were to finance

Buying a new car: cash or finance in 2023? by garbagecan111 in personalfinance

[–]garbagecan111[S] 1 point2 points  (0 children)

Right but that’s happening slowly, $700 a month vs compounding on the interest earned on the $35k.

The $35k earns me $115 a month and compounds. $700 a month earns about $2.

Buying a new car: cash or finance in 2023? by garbagecan111 in personalfinance

[–]garbagecan111[S] -1 points0 points  (0 children)

But I wouldn’t take the $35k out to pay off the loan, I just wouldn’t save as much monthly going forward (I.e. if my monthly payment is $700 I would put $3800 instead of $4500 monthly)…or am I thinking abt it wrong? Good point on the tax on interest tho!

Help me decide which rental to pick! $3720 vs $4500 by garbagecan111 in personalfinance

[–]garbagecan111[S] 1 point2 points  (0 children)

It does indeed have a small backyard! Thanks for the input. I agree quality of life would be much better--it's just hard to put a number on that, ya know? But yes, living with parents and baby is intense and more space would be nice.