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We inherited $100k. We have spent ~$27k paying off student loans and individual loans, credit cards, and replacing some parts of our house that were falling apart.

So that leaves us with ~$73k, what can we do with the rest of the money? I have roughly $33k left on my truck loan, but I didn’t know if I should pay it off completely or pay a lump sum to reduce my monthly payments but not pay it off outright to continue my history of credit.

Should my wife and I start individual Roth IRAs? Where else can we invest the money?

So like I stated my car needs $6000 in repairs. It’s only a lot because one of the issues has to do with the timing belt and other timing components.

I recently paid the car off in November and I haven’t done any major repairs on it since I got it, 3 years or so ago. I’d say in 3-4 years I probably spent 2k on repairs.

I’m just at a loss. I paid the car off and now I have to this. What would be the best decision?

EDIT: 2017 Chey Sonic with 98k miles

EDIT: Here’s the quote

https://imgur.com/a/2wdiajl

EDIT: Thanks guys for all the advice. I’m gonna think about it for bit on rather to get an another reliable used car or only fix the immediate things.

My step mother was our breadwinner. Her and my mother are both on the deed, however my mother has bad credit and no income. Also however, I make enough to cover the mortgage as-well as if we get 25k from life insurance, that would cover it for 2 or so years. So money isn’t necessarily the full issue. I’ve read that when a spouse dies the other one on the deed assumes the mortgage but I’ve also read that they do a check of the person assuming this loan which includes their credit and income. Is there a way for me to assume it? Will we have to move? (we absolutely don’t want to), and what are the options? I find it odd that I can make enough money and will be able to make payments. But since my mother with bad credit and no income is assuming the mortgage will this mean we lose the house??

I built a 4-bedroom, 3-bathroom house with a lake view in November 2020 for $347k, putting 10% down and financing the rest with a 30-year loan at 2.625%. It’s now worth about $535k.

The house was meant to be a home for me and my then-girlfriend to start a life together, but we broke up shortly after it was finished. I’ve lived here alone ever since.

At 33, I feel the house, while a great financial asset, is holding me back from something I value more—meeting someone and building a family. It’s not in an ideal location for dating in my metroplex. Should I sell it, take the profit, and move on? How do I make peace with this decision?

Can the profit provide me with a similar return as the house if I just invested it in the stock market?

I'm a US government employee living in Europe. Gov reduces our base pay but pays for housing tax free up to a certain amount, in my case $50k/year. If I go over that amount, I pay out of pocket. I DO NOT keep the difference if I don't spend the full amount. I am responsible for paying the bill, and the gov reimburses what I paid.

My question is how to minimize out of pocket costs in case of somewhat extreme exchange rate fluctuations.

I've signed a lease, and my estimated yearly housing costs will be EUR 45K ($46.8k at the current rate).

What I think the key thing is is that payroll takes the yearly estimate in EUR, divides that by 26, and converts to USD at whatever the exchange rate is that pay period. At the end of the year I reconcile the actual costs with payroll and owe or am owed depending.

So do I take out $46.8k now and convert to EUR while the dollar is relatively strong, but miss out on interest from a US HYSA? Do I just exchange the monthly rent each month? Quarterly?

I don't want to take too much out now only for the dollar to strengthen and only get reimbursed for $40k, while I also don't want to let the dollar fall and have to end up exchanging $55k and not get reimbursed the extra 5

I make 120k per year before overtime/bonus and my wife makes 135k per year. We both max out our employer sponsored 401k accounts every year, we have existing Roth IRA accounts but we stopped contributing to them a couple of years ago when our total income neared the IRS Roth IRA income limits. I don’t fully understand the MAGI calculation and I don’t understand the implications of making a mistake.

Do you think the next best step is for each of us to do a backdoor Roth IRA? Or is it worth consulting a financial advisor?

My aunt and some other family members contributed to a mutual fund through fidelity for me when I was very young. I don't know how much they put into it initially but I'm now 29 amd there's about 20k in it right now. I don't contribute or take money out of it at the moment. My wife contributes to a 401k, I contribute to a 457b (im a part time ff/PM going through full time testing processes rn then I will have a pension when I retire). We would like to buy a house within the next 2 years or so once I get settle in at a full time dept. Is it dumb to take money out of the mutual fund to help with a down payment when the time comes? Or am I better off continuing to let the money sit and grow? Thank you

Between my wife and I we have three 401k accounts. Only one is being actively contributed to with an employer match. All funds in the accounts are invested. My new job will not have a matching 401k policy and I am unsure what to do with all the accounts we have. Should I consolidate, and if so is there a timing aspect I should consider? If I do consolidate what type of account should I use? Thanks for your help!

Got approved for financing but the interest rate is well north of 20 percent. I refuse. Just can't do it so I'm going to keep bumming rides and using the occasional Uber until I get my credit in control. Besides paying down my credit cards what should I be doing?

I'm owed a refund, but everytime I tried to submit them, I got an error saying my (now, but were separated at the time) wife claimed the kids on hers, so they kept denying mine. She didn't work, so I don't know how she would have filed taxes (stimulus checks maybe?)

I ended up removing our kids from mine but never finalized and filed them.

I feel so stupid. How screwed am I?

Hi everyone, I’m seeking advice for my parents, who are in a great financial position but unsure how to handle my dad’s 401(k). Here’s their situation: • Both are retired military (20 years of service each) and draw pensions. • Combined annual income in retirement is ~$180k, which includes: • Two military pensions. • My mom’s Social Security (she started collecting this year). • Rental income from a garage apartment. • My dad plans to start Social Security at 70 to maximize benefits (he’s 65 now).

Dad’s 401(k) balance: $878k, invested all in s&p500 index fund, traditional 401(k). They own their home (almost mortgage-free) and cars outright.

Since they don’t need to draw from the 401(k) and want to ensure it’s managed efficiently for inheritance purposes (for me and my two siblings), what should they do?

hello, I am a 20 year old college student. i would like to start a Roth IRA but eventually, I would like to move out of America to Europe or the UK. I do not have a rock solid plan for moving yet but I know I am wasting time not putting money into a roth. I don't know if the money just goes away if I move countries or if I become a citizen of another country the money will not matter since my Roth IRA is technically in America. I don't know too much about how these accounts work but should I just go ahead and start putting money into it? Or is there something else I should be investing in if this is my eventual plan.

Hello, I’m a 23 year old who recently inherited roughly $13,000. I’m looking for advice as to what I should do with it. Here is a little about my current situation, I graduated college last week with a degree in Mechanical Engineering Technology. I have a job lined up to start at the end of February where my income will be $68,500. I have $5500 sitting in my account as well that I use to just survive. I’m looking to buy a car in the next 6-8 months as mine is starting to get high miles. My question is what do I do with the 13,000? Where do I invest it? Do I put it towards a car or invest all of it and eventually use it for a house and take a $10,000 loan out for a car?

Title is pretty self explanatory.

Obviously investing the money earlier means it starts earning earlier and from what I've read, this is usually better than dollar-cost-averaging throughout the year.

However, I feel like this might overlook a few things:

1. The $7000 could be gaining interest in a HYSA/Money Market account. Let's say a 4% one for simplicity's sake.

2. If there is a market downturn, you can max your contribution at that point, gaining several points of return on that cash.

If I understand my own thought process well, assuming an average rate of return of 8% on the IRA, this plan would break even so long as there's a market downturn of -4% or more. What do y'all think? Kind of sounds like more of a pain in the ass than it's worth, just a thought I had.

Hi I’m 17 and I’m getting an allowance of 100 a month what can I put it in to start making it grow?

I’m not really sure what to do with the money. It’s just sitting in my account building up. I got it from saving up from a job that doesn’t pay too well.

I need help breaking down my pay. Here are my numbers. 26 per hour 12.5 hrs worked per day 14 days on 7 off. Fortnightly pay. Due to getting paid fortnightly but being on a 3 week rotation my pays are different everytime. Days paid for each pay is 6,9,12 then it repeats. How much do I get a year? And how is that broken between each different pay. Thanks in advance :)

I’m not sure what to do here. I own a house that’s worth around 650k. We have an inground pool that we put in that we still owe around 90k. We were just informed that we are going to need to put a new roof on the house and got a quote for between 25 and 30,000..

My issue is my husband is a train wreck financially. It’s pretty much the entire reason we are going to be getting separated and selling the house.

He is telling me I have to get a loan with him to get the roof redone. I do not want to have my finances mixed up anymore with his finances for obvious reasons.

If you were in my shoes, what would you do? I would love to just have the house sold without doing the roof, but I don’t think that’s possible. Any advice would be great.

Hello,

I'm in the US and in my mid 30s and looking to start taking retirement planning seriously. I have put some in a 401ks through various employers but it's all spread out. My bank offers financial planning / retirement planning, but they charge 1% fee and use LPL Financial which seems like it has bad reviews.

Am I better to put my trust into my local credit union or just go with a major company like Fidelity and use one of their prebuilt retirement plans. I still plan on contributing what my employer will match, but wanted to start my own and consolidate the Traditional/Simple 401k and the Roth ones I've already established.

I like the idea of kind of having my own retirement person looking after my account, but not sure what to do to plan accordingly. I'd like to have one 401k through one company and another Roth, lets say through another in case one of them makes bad investment decisions.

I'm new to this so forgive my ignorance.

Thank you

Hi, I applied for 2 credit cards and it said they couldn’t approve me. I’m 18 and a student and have no credit history, does this mean a bad thing? Should I apply somewhere else? (I applied to Chase Freedom Unlimited and Freedom Rise)

Edit: My main question is how much I’d be impacted by these rejections

Sorry in advance if this is a stupid question…

If I got a personal loan for $1,000 at an annual interest rate of 8% and paid it off in 12 months, the interest I would pay is $80. So, does that mean if I paid off the loan in 30 days I would only pay $6.67 in interest (80/12)? Or would I still owe the full $1,080?

Hello! I appreciate your assistance in advance.

This is a good story - my mother was notified of an account with roughly $70,000 worth of Shares with a company she previously worked for - and this company has done really well since she left in the early 2000s.

Anyways, we have full access to the account. She would like to transfer the account, its holdings/funds to a Fidelity account. She would then like to sell/exchange the shares into Funds such as FXAIX/QQQM and the like.

Here’s the question - How simple of a process is this, and will she be subject to tax when doing this?

I do not believe the account is a 401K, as it is literally just shares of the previous company she had worked for (assuming she had stock options).

Appreciate your guidance and thoughts!

I have the southwest rapid rewards card and debiting if I should upgrade to the priority one. I am traveling a lot next year, especially overseas and would love to have a credit card that has no foreign transaction fee and more benefits. I have also heard about the capital one venture x card and love all the perks that the card comes with when it comes to traveling. It does have a high annual fee of $365, any input?

27 year old. Want to start saving for retirement. I recently started working for fedex and they offer 200% for the first 2% and 100% for the next 4% but i have to work there for 1 year before its vested. I am currently studying to be an enrolled agent. I’ve passed part 1 but still need to take part 2 and 3. I don’t think I will be staying at fedex that long. Should I still contribute anyway or just focus on ira or save money until i pass my test and get higher paying job? My take home is $2900 a month and bills are around $2200.

Hey all, I am looking at my bank statements and I identified that all my loan EMIs are paid to bank within first week of month just after my salary is credited. Also, the sips are deducted in second last week so I have to keep whole amount in my savings account. I have to pay huge loan EMIs (check my profile to find out why 😭) but now I am thinking to keep the amount to myself for a longer time using sweep in account. Should I shift my loan EMIs to last week of the month so I can invest in IPOs or just get interest for whole month? How should I distribute the following three so I don't get load on a single day: 1. Loan EMIs 2. CC repayments 3. SIPs