CD, HYSA or Bonds/Tbills. Whatever will give you the most for you money. You can find the rates for everything online. I find CD's to be easier, just break the money up into 250K chunks so it's covered under FDIC. You can also find banks that will do that for you.

I suggest you find someone else. I’m a tax accountant. Even if you had $75K gross income with no withholdings as married couple and lived in the highest income tax state, you wouldn’t owe more than $20K. Either that person sucks at tax, or there isn’t enough information

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I do sales and service for an insurance agency. Our agency recommends a minimum of 100/300/100 for liability coverage. If you like in an area where luxury cars are regularly around you and dense population, definitely do it. As far as deductibles, for collision ask yourself “how much out of pocket cost can I cover before it becomes a burden”. For cars over 10-15 years old the savings in dropping collision coverage is typically higher than having collision coverage on the vehicle. If your glass coverage is included in your comprehensive coverage, select a deductible of $50. Glass repairs are typically $200-$375, I’ve never seen a glass claim over $550.

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Yes he helps us file after we approve of it.

Yeah we bought insurance through healthcare.gov. We didn't get a monthly bill and we assumed it would be like last year where we'd owe about 4-5k. However this year it was 25k. Not sure why though as again i did the math and the premiums only add up to about 9k without the advancement.

Your accountant HELPS you file taxes? They don’t file your taxes? Hire someone; way more information is needed but off that bat this doesn’t sound right at all

>What “insurance issues” change your taxes? Your insurance premiums are paid to insurance companies and have nothing to do with April tax time.

If they're on healthcare.gov insurance and claimed advanced premium tax credits and then made too much to qualify, they'll owe that money back.

What “insurance issues” change your taxes? Your insurance premiums are paid to insurance companies and have nothing to do with April tax time.

You probably need a new accountant. Try plugging it into FreeTaxUSA or TurboTax yourself.

Absolutely. Also, do your own research as well. A random guy on reddit may not give the best financial advice. I was in your situation not too long ago, even similar debt amounts, and now I'm doing better than I ever have been. Goodluck!

You may find our Taxes wiki helpful.

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Gotcha, I'll keep that in mind. Thanks for your help! Im use everything I learned here and work on that credit with focusing on the car later. Have a good one.

Are you saying your credit limit is $5000? To maintain a good credit score, your credit utilization should always be under 30%. This will improve your score. Anything higher will start to be detrimental. It's generally favorable to put as much down as you can. Not only for better rates, but lower minimum payments. Of course it depends on many factors.

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That's what I've been doing. The minimum is $130. I either do $200-400 biweekly. I've only previously done minimum for most of my life, falling in a loop. I picked up books, reading online to make changes to my day to day life to make these improvements. Depression also kept me from caring. Battled that for decades and won on my own last year in Oct 2022. Feb of 2023, I found myself no longer depressed. I see that's very interesting. Once I get there on lower credit limit. I will keep it low if I go over, I will pay it quickly.

Actually, I have a question for you once more. Since my limit is $5000. The car I'm getting is 6k. I have 3.5-4k saved up. Use some of my credit or get a loan? I'm not going this route unless it could be beneficial to my credit report with quick hefty payments.

I also called Chase, and they wouldn't do anything about it. I missed the payment because I was in the hospital too.

I accidentally missed 1 payment 30 days late. Took 7 years to drop from credit report.

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Ext market index is mid and small cap only. Inst index is the 500 index

Well the retirement funds have modest growth and are less volatile. You pick the year based roughly on your retirement date. As that date approaches it will add more bonds. Early on it will be more aggressive but less volatile compared to say a growth fund

Average new car sold price is around 50k. If you going into multiple cars accident, you'll want that $300k coverage.

Looking at their performance, those have performed better than any of them, roughly 9% in 11 years.

> Do you know what the umbrella policy does? Like when would that get used?

It pays for most civil liability (above and beyond what my home and auto policies cover)