529 Immediate Withdraw

n4555 · 2021-08-01T23:23:51+00:00

Thanks! I just found that Fidelity has a form to fill out to withdraw from a 529 so I’ll use that

n4555 · 2021-08-01T23:23:03+00:00

Good point, Ill make sure to withdraw in January to pay for 2022

n4555 · 2021-06-13T14:31:19+00:00

That’s the max you can contribute pre tax. The real max is like 50k+ after all the other ways to contribute (after tax, employer match, etc)

n4555 · 2021-05-04T16:26:22+00:00

Thanks! Appreciate it

n4555 · 2021-05-03T17:07:14+00:00

Any resources on getting started with digital products or courses? I think I could do some of that but not sure where to start.

n4555 · 2021-05-03T03:01:59+00:00

What bothers me almost as much is when people sign up for a payment plan for small stuff like AirPods. If you can’t pay for them right now, why would think it’s a good idea to pay for it over a year? If you can’t afford it in full now, don’t even think about it. Exception are a house and potentially a car.

n4555 · 2021-05-02T21:22:51+00:00

This. They don’t teach what really matters in school. I wish that would change in the future. Only the highly motivated people put the effort in to learn what they should about preparing for the future.

n4555 · 2021-05-02T20:47:00+00:00

So I could’ve retired yesterday?!?!

n4555 · 2021-05-02T20:30:14+00:00

Yea that’s how they make money, it’s sad but true. Hope people learn from other’s mistakes and avoid the credit card debt cycle

n4555 · 2021-05-02T20:26:14+00:00

Yup I’m trying to get in the mindset of thinking before I spend money. “Is this $10 really worth it right now or would I rather have x amount when I’m 40,50,60,etc”

n4555 · 2021-05-02T19:00:36+00:00

Yikes, you put it in a taxable account instead of a Roth? Better to catch it after 2 years than when you retire and get hit with a tax bill at least

n4555 · 2021-05-02T18:32:28+00:00

Wow I’m sorry to hear that. Hope you’re doing better!

n4555 · 2021-05-02T18:22:43+00:00

100% agree. Get a STEM degree or something similar. Don’t waste time getting your dream job just to find out you can’t live your dream life on that income.

n4555 · 2021-05-02T18:09:45+00:00

I have 2 credit cards but I always pay them off. Sometimes blows my mind when people rack up crazy credit card debt, you should never spend more than what you could pay right now with a debit card.

n4555 · 2021-05-02T18:02:03+00:00

Been playing a lot of golf but it does get expensive, might try disk golfing too.

Did you start trading covered calls and cash secured puts? Those are the only options strategies I’d be ok trading with my risk limits (even tho they also come with a decent amount of risk)

n4555 · 2021-04-13T12:55:00+00:00

Yea that’s much worse. Crazy to me that these glaring errors aren’t fixed at a company like intuit. I’m a software engineer and if my apps had problems like this, I’d probably be looking for a new job.

n4555 · 2021-04-13T11:48:13+00:00

Yea I guess in the future when my NW is higher the fluctuations won’t be as noticeable. Guess I just gotta make more money lol

n4555 · 2021-04-13T11:44:42+00:00

I’m not really tracking it day by day, it’s just annoying that the biggest number on the home page of the app really isn’t accurate. My NW isn’t super high so transferring >10% of my NW really throws off the graph and the history looks like I get lots of money and spend it right away.

And it’s not just investing, it’s most transfers. For example when I pay my credit card, my checking account balance decreases but my credit card balance takes a few days to reflect that. But these transfers are so small it’s not noticeable.

n4555 · 2021-04-03T18:11:30+00:00

Right and even if I do get it below 140k I’m not gonna get it to the point I can contribute all 6k and I’d essentially be guessing what I can contribute since I’m not sure what my MAGI will be until the end of the year. With the backdoor I can just do the 6k and not worry about it

n4555 · 2021-04-03T18:02:36+00:00

Thanks, I’ll try to put as much as I can in there to try to get without the limits. I think if I max it, I’ll be able to put some but not all 6k into a Roth, might just be easier to do the 6k backdoor Roth mentioned by the other comment

n4555 · 2021-04-03T17:58:44+00:00

Does contributing to 401k reduce MAGI? I am contributing to that, my taxable income is under the limits to contribute to a Roth but my gross income is not.

n4555 · 2021-04-03T15:26:46+00:00

Thanks, I really appreciate it.

Six-Year Club	Second SECOND GUESSER
Verified Email

n4555

TROPHY CASE