paysite

Can I cut back on retirement contributions?

I am 30, married, and make $120k/year pretax, wife is currently a stay at home mom. Currently have $300k in retirement savings (Traditional 401k & Roth IRA). We have been feeling the pinch of inflation with rising costs everywhere and baby expenses and I feel like I need to cut back on retirement contributions to make ends meet. My plan is to still contribute enough to get the full company match (10%) and max my Roth IRA ($6,500), and go back to maxing my 401k after a year or two. Will I still be in good shape? My goal is to have around $4 million by 65.

Brokered CDs with 5% interest? Can someone ELI5? – I’m just finding out about these now and not quite sure I am doing the right thing. Any specific advice /be aware of?

As subject says, just saw there are Brokered CDs with up 5% interest. Looking at Vanguard now and thought I might try buying one of the 4 month ones for 4.5% to try it out, but want to make sure for those have done so if there is anything specific you wished you would have known (fees for purchase, type, etc) before doing so…

Thanks for any insights!

I gave my sister my SSN

So when I first turned 18, my older sister came to me and asked me if she could use my SSN to open up a light bill. She was a single mom with two kids at the time and was really struggling, and I felt sorta obligated to help. I really love my niece and nephew and when she told me they couldn’t even watch TV I felt so bad. She made me promise not to tell my mom and swore it’d be temporary and that she wouldn’t miss a payment because she knows how important credit is.
At the time, I didn’t really know myself and wasn’t too worried because I knew I wasn’t getting my own place anytime soon (I was just starting college). She ended up lying and let the bill go over thousands of dollars without me knowing because I was under the impression she was always paying it. Once I found out, I called and had them close the account so she wouldn’t make it go higher. Now she’s refusing to pay it and I don’t know what to do.. I spoke to the company and they sent me identity theft/fraud paperwork to fill out. She says she won’t get in trouble and it’s not fraud since I told her it was OK. But some people are telling me permission or not, it’s a crime. I just wanted to know what I should do? I don’t really have adults around me for guidance or advice

Homeless in debt suddenly getting major windfall

Long story short, have been in and out of homelessness for about three years. Am a skilled IT technician, am about $20K in debt. Distant relative died and left me a $70K inheritance (these things actually happen outside of Monopoly?). I have no car, no rent, no recurring payments of any kind except a quarterly student loan payment of $200 (the loan has phenomenal terms).

I have zero (0) sound money management skills. Money is fundamentally immaterial to me, I have no control over it and it just kind of comes and goes. But I really like living minimally and frugally, and I like finance as a discipline and have been learning about markets, stocks et c for some time, but still a novice.

Heading into recession within the scope of the above, could use suggestions because I have no idea where to go from here. I hope to start my own business down the line.

Thank you.

Switched banks with a credit card

I recently switched banks. I had my first credit card with the previous bank for about 5-7 months before I switched to a new bank to join finances with my wife. If I transfer all my money and close out my old bank should I cancel my credit card? Or would that hurt my credit score? I haven’t used the card in a month or so

Dad passed away with nothing and now the irs is asking for $30k

Backstory:
My father passed away a few years back sick and broke. He lost his house and any real assets along with his health do to a hit n run. He died with a car and a few hundread dollars in his acct and simple household posessions and medical debt. His only real asset is a couple acres of undevelopable land that he and his sister inheirited. They were both on the title and she is still living.

My problem:
3 years later the irs sent me a letter claiming he owes $30k for years he quit filing returns. The amount owed is a guestimate based off of his previous returns prior to leaving work. The years in question by the IRS are years that he was out of work, and recieving disability. What do I do, how to i get the irs to acknowlede he was out of work and not skippong oit on taxes? ive sent copies of his disability etc. And havent heard a single word back in 4 months. They continue to send letters asking for the balance, so what ive been able to do is getting me nowhere, does anyone have any insight ? Any help is greatly apreciated as I am disabled with a slew of condtions, i do t have the money or energey to fight this.

Thanks for any info or help.

Benefits of financing a car vs. buying in cash

I’m trying to see what the pros and cons are to buying a car in cash vs. financing it. I’ve read a lot of old posts here, and the one pro for financing that keeps coming up is that “if you finance it, you can take the money you would’ve spent upfront on the car and invest it instead”. But what does that actually look like?

Say I want to buy a car for $20k. If I decide to finance it instead of buying it all in cash, what exactly am I supposed to invest that $20k in? And would I just sell some of that investment every month to pay the monthly payments? As my employer handles my pension, my only investing experience is the ~$1k/year I put in an index fund in my IRA, and I’ve never sold or taken any of that money out, so I’m kind of lost here.

Urgent care sent my son to ER but it wasn’t an emergency

Please let me know if there’s a better sub to post this in. We took my son to UC for a high fever. UC checked his O2 level and said it’s at dangerous level, tried to give him a breathalyzer, but it still shows the same. So they sent us to the ER. We went there, they checked his vital. They said besides the fever (from a virus, as UC found out), everything else is normal. After that they said we had to wait for a doctor to consider if they’d even want to see us? 3 hours passed by and now he’s being seen, just for the nurses to reconfirmed that he’s not in need of emergency services. They checked his vitals again twice. Now they left us all here to wait some more while they disappeared for 30mins. My concern is I know if we go to ER for non emergency things, insurance won’t cover it. But UC sent us here, would we still be billed for this visit?

How to ask for more PTO for a job offer

Current position is $77k a year, 30 PTO days, $200/mo insurance premium with $7k out of pocket max for me and my child.

New job would be $85k, 17 days PTO, $0 premium but $8k out of pocket max.

Wondering how best to phrase it and if asking for 5 more days plus $90k seems like a fair counteroffer?

I would honestly likely accept the job with just a week more vacation even if they don’t go for $90k, as it’s a significantly shorter commute and a much better position for my career aspirations. It’s really the PTO that’s holding me back.

Edit: thanks everyone, I’ve decided to simply let them know my current PTO situation and ask if there is any wiggle room on that front. I will see what they respond, but thinking about the time saved from the commute and increase in salary I am very heavily leaning towards taking this job.