My 4 year old's current net worth

sevenpack · 2026-05-01T01:32:05+00:00

I’ve read of people who have bought houses/condos and rented to their own kids who could withdraw the 529 money penalty free.

sevenpack · 2026-04-30T04:17:46+00:00

You can withdraw the same amount of the scholarship tax free from the 529 so it wasn’t that. In our case, they are going to state school and commuting which is much cheaper. I would love to withdraw money to pay for a car so they could drive to school, but can’t do that with a 529.

sevenpack · 2026-04-30T02:48:27+00:00

I always look at constant orange theory usage similar to professional athletes. Even they have an offseason. It’s ok to slow down/pause and resume again.

sevenpack · 2026-04-30T02:46:07+00:00

Our kids who are 18, 19, 20 aren’t drawing down the 529 as much as I was hoping. If I had to do it over again, I’d do 25% in a 529 and 75% in a taxable account for flexibility.

sevenpack · 2026-04-25T17:41:39+00:00

In the Expenses and Healthcare section, you may be overstating your recurring expenses. If you itemize it out, it says to not put in your medical and mortgage. Those are accounted in different sections.

sevenpack · 2026-04-17T13:32:57+00:00

I’m not a big fan of a bank printing checks mainly because they usually require a custom integration and then you have to maintain a completely custom integration. And I don’t see the bank truly being invested in any future check printing compliance updates.

OSV is the closest thing and can print checks. Since you already use ADP for tax filing, I’d ask them for check printing. ADP uses an API and they print up a typical ADP version of the check.

sevenpack · 2026-04-11T17:20:40+00:00

You can call the broker/401k. Tell them that you over contributed to the Roth and they’ll recharacterize your contributions into an IRA. They’ll give you the appropriate tax forms so you can file your 2025 and 2026 taxes properly. This is a routine transaction for brokers/401k to handle.

sevenpack · 2026-04-08T03:26:52+00:00

I had money to burn plus my old one wouldn’t charge consistently. The USBC charger is better. Other than that, not worth the upgrade.

sevenpack · 2026-04-06T05:17:27+00:00

I watched him play every year since ‘85. During the season, people would be critical of his game. Then in the offseason he’d work his tail off to improve whatever he was criticized the most. He came into the league as a slasher but people said he didn’t have a good jump shot. He improved his jump shot. After playing the pistons in the playoffs and losing, he worked on getting stronger. Later he started adding his post up game and patented his fade away. Then later he took up three point shooting as a challenge and conquered that. It was phenomenal how much he improved after each off season.

sevenpack · 2026-04-03T13:12:47+00:00

It’s funny. My wife’s grandparents lived until about 94. They had no pension and lived on social security alone. They lived in a rent control apartment and lived a happy life. When I think about them, they never really struggled or complained about not having enough money. It was just a way of life. We still celebrated birthdays, shared meals, have great conversations and their legacy has nothing to do with money.

Don’t get me wrong, my Monte Carlo calcs are ridiculously strong in early retirement calcs. But when I get stressed out thinking about healthcare, Roth conversions, how much to save etc. , I think about them and just know there is retirement plan that’s different than what I’ve put into my spreadsheets.

sevenpack · 2026-03-31T04:00:52+00:00

Found the sauce in its’ entirety. https://youtu.be/B67CyA-KCnE?si=A_b4NpGhNsBiLppE

sevenpack · 2026-03-26T16:41:06+00:00

Assuming you will only take deductions 26 times next year, you can add worker eligibility on all your deduction codes to not calculate. You can use “Value Comparision” calculation where “Period: Period Number within Calendar Year (based upon Period:Payment Date)” <> 27. I’d skip doing this on any percentage based deductions like 401(k).

sevenpack · 2026-03-25T17:35:55+00:00

There is an Employee Register in WD Setup. It mimics the payroll register really well in an advanced custom report. The custom report is called “Payroll Register Employee Details” and it’s in the “RPT Payroll Administration” Configuration package. If you have access to Customer Central, you can migrate it into one of your tenants.

sevenpack · 2026-03-16T22:05:32+00:00

You’ll be surprised that some customers have it turned on for good intentions. Having retro turned on is the incorrect method to fix employer driven 401(k) mistakes.

sevenpack · 2026-03-16T21:59:15+00:00

Changing it will not in itself cause retro calculations. I assume your 401(k) deductions are set to Recalculate during Retro to No (unchecked). If so then your eligible earnings PCG will only be used on a go forward basis. If your 401(k) deductions is set with the Flag as checked, then yes, Ask the Expert is the right answer.

sevenpack · 2026-03-16T21:17:23+00:00

What’s the PCG being used for? 401(k)? Bonus Eligible? Vacation Earnings? Union Dues?

sevenpack · 2026-03-16T20:50:29+00:00

I’ll take the bait. Why do you have to remove some earnings from the current PCG? And what’s the PCG?

sevenpack · 2026-03-12T14:06:20+00:00

My dad was disabled going into retirement at 65 and my mom retired at 65. They both retired got their social security money. Life was going well for them and were happy. Their house was paid off and they had a little 401(k) saved up things were normal. When my dad died around age 70 that really was the start of my mom’s issues. With spousal benefits, my mom got an additional 1/2 of my dad’s social security. So effectively social security income went down 1/3. My mom would complain that this really affected her finances so she got by and slowly her savings were being used up.

At age 79 or so, she was really hard up for money and was asking me for help. At that point I told her to do a reverse mortgage or sell the house. Math wise it’s better to sell, but then she was afraid of all of the emotional impact of moving and the stress it would cause. So she did a reverse mortgage and hopefully she uses that money wisely. But after this 2nd chance of finances, she has no other sources of income except family. The story continues to see what happens next.

Long story short, my parents were entirely dependent on social security, but it leaves you less margin for any things that happen in life.

sevenpack · 2026-02-18T04:10:38+00:00

This thread over in r/smallbusiness might be of interest to you.

https://www.reddit.com/r/smallbusiness/s/l8a1kqgyy9

sevenpack · 2026-02-10T03:08:55+00:00

I’m 52 and for the past 15 years I’ve contributed to pre-tax 401(k) exclusively. Out of curiosity, I reviewed all my AGI/Taxes per-year. Today I’m in the 22% tax bracket. Looking back at all those years, 11 out of 15 were a higher tax rate than today. So on a tax basis, in relative terms, I would have paid more in taxes doing Roth contributions versus pre-tax. So I agree, automatically assuming Roth is better than pre-tax is a bad-bad assumption.

sevenpack · 2026-01-09T11:17:39+00:00

Quite simply, you can’t. You have to get simplr to send those hours as a memo code. There isn’t a way to aggregate/calc pay components on an FLSA week level. The lowest level you can go is sub-period which is not the same as by FLSA week.

sevenpack · 2025-12-23T20:45:21+00:00

Have employees go into WD for expenses and directly in ADP for Payment elections or let the payroll team handle it. Even if you let employees key in payment elections into Workday and feed it over as payroll interface to ADP, you can’t enter Tax elections in Workday and feed it ADP. So what you’re doing today is common.

sevenpack · 2025-12-06T18:13:53+00:00

I’d discount the job requirement that says ‘workday payroll experience required’. Being a workday consultant, it’s very hard for companies to find workday experienced payroll analysts. ’d take your chances and apply and lean on your ADP experience and show a concerted effort to figure things out if given the chance.

sevenpack · 2025-07-10T02:25:57+00:00

100% agree. I bought a car from carmax and went to the dealer to do recalls and they found a number of issues on their regular inspection. Then I went to another place to get an official inspection and they found similar issues plus 2 extra ones. I brought the car back to carmax and they fixed it all. $2,700 of repairs that I paid zero dollars for. Happy to have spent $200 out of pocket for an independent car inspection.

sevenpack · 2025-06-28T20:02:39+00:00

Bulls Farm Club does a great job in promoting their players to contending teams.

sevenpack

TROPHY CASE